Mapletree Logistics Trust Goes on Buying Spree with Properties in China, Malaysia, Vietnam, and Australia
Posted on 10/22/2020
Mapletree Logistics Trust is an Asia-focused logistics REIT in Singapore. This REIT was listed on the SGX-ST Mainboard on 28 July 2005. MLT’s principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets.
On October 19, 2020, Mapletree Logistics Trust bought a 100% interest in seven properties and the remaining 50% interest in 15 properties in China at an acquisition price of approximately RMB 4,477.1 million (S$ 905.7 million), a property in Malaysia (Mapletree Port of Tanjung Pelepas) at an acquisition price of approximately MYR 402.5 million (S$ 131.7 million), and a property in Vietnam (Mapletree Bac Ninh 3) at an acquisition price of approximately US$ 22.2 million (S$30.1 million). The properties are logistics facilities built to Grade A specifications, including strong floor load, high ceilings, large floor plates and ramp access for the multi-storey properties. In addition, the majority of the China properties have cross-docking features that enable fast movements of goods. The Aggregate acquisition cost of approximately S$ 1,090.2million is for all the properties.
Mapletree Logistics Trust bought these assets from subsidiaries of Mapletree Investments Pte Ltd and subsidiaries of Itochu Corporation.
Deal Breakout
PRC Acquisition Price, 905.72 SGD million
Malaysia Acquisition Price, 131.7 SGD million
Vietnam Acquisition Price, 30.1 SGD million
Total Acquisition Price, 1,067.4 SGD million
Assets (acquiring remaining 50% stake to own 100%)
Mapletree Wuxi
Mapletree Hangzhou
Mapletree Nantong
Mapletree Changshu
Mapletree Changsha
Mapletree Wuhan
Mapletree Xi’an
Mapletree Tianjin
Mapletree Jiaxing
Mapletree Nanchang
Mapletree Zhenjiang
Mapletree Chengdu
Mapletree Shenyang
Mapletree Jinan
Mapletree Changsha 2
Acquiring 100% stake
Mapletree Tianjin 2
Mapletree Chengdu 2
Mapletree Qingdao
Mapletree Guiyang
Mapletree Nantong 2
Mapletree Ningbo
Mapletree Changsha 3
Australia
On October 21, 2020, Mapletree Logistics Trust announced the proposed acquisition of Acacia Ridge Distribution Centre located at 338 Bradman Street, Brisbane, Queensland, Australia, at a property purchase price of A$ 114 million via the acquisition of all the units in the property trust holding the Property from Alset Australian Mid TC Pty Ltd.
Following this Brisbane acquisition, Mapletree Logistics Trust will have three properties in Brisbane and a total of 13 properties with over 347,287 square meters of leasable space in Australia.
Mapletree Logistics Trust Management Ltd. is the manager of the trust and is owned by Mapletree Investments Pte Ltd. Mapletree Investments Pte Ltd owns 30.59% of the Mapletree Logistics Trust. Mapletree Investments is a unit of Fullerton Management Pte Ltd. , which is owned by Temasek Holdings.