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Nikkei Markets

Singapore's Mapletree Logistics To Sell 2 Properties In Japan For S$165.4 Million

By Singapore Newsroom
Nikkei Markets
SINGAPORE (Jun 30) -- Mapletree Logistics Trust Management, a Singapore-based logistics real estate investment trust, said Friday it has entered into a sale and purchase agreement with Godo Kaisha Asset Toshi Jigyo 4 Go to divest two warehouses in Japan for JPY13,500 million (S$165.4 million).

Zama Centre is a 10-year old warehouse while Shiroishi Centre is a 43-year-old warehouse, the company said in a stock exchange filing. Both are four-storey warehouses with a gross floor area of 41,170 sqm and 11,181 sqm respectively.

The sale consideration is 32% above the latest valuation of the properties and 10% above the original purchase price, Mapletree said.
- By Singapore Newsroom; sgeditorial@nikkeinewsrise.com; +65 6331 6250
- Edited By Shiladitya Ghosh
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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