Mapletree Logistics Trust Buys S$1.4 Billion Grade-A Logistics Assets in China, Vietnam, and Japan

Posted on 11/24/2021


Singapore-based Mapletree Logistics Trust Management Ltd. is the manager of Mapletree Logistics Trust. Mapletree Logistics Trust inked a deal to buy a portfolio of 16 logistics properties, comprising the acquisitions of 13 properties located in China through the acquisitions from subsidiaries of Mapletree Investments Pte Ltd, the sponsor of Mapletree Logistics Trust, and a subsidiary of Itochu Corporation of 13 property holding companies and the acquisitions of three properties located in Vietnam through the acquisitions from a subsidiary of Mapletree
Investments Pte Ltd of three property holding companies. The agreed property values of the PRC Properties and the Vietnam Properties are RMB 4,111.7 million (approximately S$870.0 million) and US$ 95.9 million (approximately S$129.9 million) respectively.

China Properties
1 Mapletree Wenzhou
2 Mapletree Zhengzhou
3 Mapletree Yangzhou
4 Mapletree Kunming
5 Mapletree Yuyao 2
6 Mapletree Xi’an
7 Mapletree Yixing
8 Mapletree Yantai
9 Mapletree Harbin
10 Mapletree Yuyao
11 Mapletree Chongqing
12 Mapletree Tianjin
13 Mapletree Zhongshan

Vietnam Properties
14 Mapletree Bac Ninh 4
15 Mapletree Bac Ninh 5
16 Mapletree Logistics Park 5

Separately, Mapletree Logistics Trust Management Ltd. announced the proposed acquisition of an effective 97% interest in the trust beneficial interest in a logistics facility in Japan from an unrelated third party at an agreed property value of JPY 35,000 million (approximately S$416.3 million). The property is the Kuwana Logistics Centre. The Kuwana Logistics Centre is located within an established industrial and logistics cluster in Greater Nagoya, in close proximity to Nagoya City, Nagoya Port and Centrair Airport. It enjoys easy access to the ShinMeishin Expressway which provides excellent connectivity to Kyoto and Osaka in the west, and Hamamatsu and Shizuoka in the east. The Kuwana City property is a 5-storey double-ramp logistics warehouse.

Cold Storage Deal
On November 23, 2021, Mapletree Logistics Trust completed its August 13, 2021 acquisition of a cold storage facility located at 5-17 Leslie Road and 6-10 Pipe Road in Melbourne, Victoria, Australia.

Mapletree Investments Pte Ltd, which is owned by Temasek Holdings, owns a 31.59% stake in Mapletree Logistics Trust at September 30, 2021.

Keywords: Temasek Holdings.

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