Mapletree Logistics Trust to acquire 5 more Singapore properties for S$778.3m

06-Jul-2018 Intellasia | Business Times | 6:02 AM Print This Post

MAPLETREE Logistics Trust is planning to acquire five modern, ramp-up logistics properties in Singapore from CWT and its subsidiaries for about S$778.3 million.

The sum includes the purchase price of S$730 million, and the estimated upfront land premium for the balance lease terms payable to JTC Corporation of S$48.3 million.

The aquisitions, which are on a sale-and-leaseback arrangement for terms ranging from five to ten years, are subject to approvals from JTC and the shareholders of CWT International.

The properties comprise five ramp-up warehouses located in the western part of Singapore with a total gross floor area of around 3.2 million square feet, and a weighted average age of 4.8 years. The price tag of S$730 million represents a discount of approximately 3.3 per cent to the independent valuation of S$755.2 million as at June 27 by Colliers International Consultancy & Valuation.


Category: Singapore

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