To expand network in South Korea, Mapletree Logistics Trust Management Ltd., announce the acquisition of interests1 in a portfolio of five modern, freehold logistics properties in approximately USD 743 million deals. The new properties are located in Yongin-Icheon, South Korea.
- The properties are spanning almost 150,000 square metres (sq m) in total gross floor area on approximately 148,800 sq m of freehold land.
The Properties also provide direct ramp access, offering greater efficiency in the movement of cargo.
- The Properties are being acquired from Kookmin Bank Co., Ltd., in its capacities as trustee of Mirae Asset MAPS Logistics Private Qualified Investor Real Estate Investment Trust No. 3, and as trustee of Mirae Asset MAPS Logistics Private Qualified Investor Real Estate Investment Trust No. 4In June 2020: Mapletree Industrial Trust Management Ltd., as manager of Mapletree Industrial Trust (MIT), is pleased to announce that DBS Trustee Limited, as trustee of MIT, had entered into agreements for the acquisition of the remaining 60% interest in the 14 data centres in the United States of America (the United States) currently held by Mapletree Redwood Data Centre Trust (MRDCT and the MRDCT Portfolio) at a purchase consideration of US$210.9 million.
The agreed property value of the 14 data centres on a 60% basis is US$494.0 million (approximately S$701.5 million).
MIT holds a 40% interest in MRDCT, with Mapletree DC Ventures Pte. Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd (MIPL), holding the remaining 60% interest.
In September 2019 Mapletree Investments Pte Ltd (Mapletree) and Mapletree Industrial Trust (MIT) formed 50:50 joint venture to acquire 10 Powered Base Building data centres from Digital Realty for approximately US$557.3 million.
About Mapletree Logistics Trust (MLT)
Mapletree Logistics Trust (MLT) headquartered in Singapore, is a leading logistic solution provider. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd. The company invests in a diversified portfolio of income-producing logistics real estate related assets. The company has a portfolio of 156 properties, comprising 52 properties in Singapore, 9 in Hong Kong SAR, 18 in Japan, 12 in Australia, 13 in South Korea, 30 in China, 15 in Malaysia and 7 in Vietnam.
Mapletree Industrial Trust (“MIT”) is a real estate investment trust. MIT invest in a diversified portfolio of income-producing real estate used primarily for industrial purposes in Singapore and income-producing real estate used primarily as data centres worldwide. MITs property portfolio comprises 87 industrial properties in Singapore and 27 data centres in North America (through the joint ventures with Mapletree Investments Pte Ltd).