Mapletree Logistics Trust divests two properties in Japan for $37.5m

Proceeds from the divestments will be used to invest in new logistics facilities.

Mapletree Logistics Trust (MLT) has completed the divestment of two properties in Japan, Toki Centre and Aichi Miyoshi Centre, for $37.5m.

Located in Gifu prefecture, Toki Centre is a two-storey warehouse spanning 16,545 sq m. The property was sold for $21.4m, 9.2% higher than its $19.6m valuation in October.

Meanwhile, Aichi Miyoshi Centre is a four-storey warehouse in Aichi prefecture spanning 6,723 sq m. It was sold for $16.1m, 7.4% above its $15.0m valuation in October.

Proceeds from the divestments will give MLT financial flexibility to invest in high-specification, modern logistics facilities with higher growth potential.

The divestments bring MLT’s portfolio to 183 properties, with total assets under management valued at $13.3b.