Temasek Holdings-backed Mapletree Logistics Trust (MLT) (SGX:M44U) has announced the completion of its acquisition of a South Korean warehouse facility known as The Box Centre for S$32.0 million.

Mapletree Logistics Trust's portfolio now stands at 111 properties  with a book value of  S$4.08 billion. 

The Box Centre is a modern warehouse facility with a total gross floor area of approximately 27,000 square meters comprising a 3-storey dry warehouse with a gross floor area of 24,071 square meters.

The vendor of the Property, Oakline, is a supply chain management company in South Korea engaged in the businesses of storage and distribution of spirits and wine and document storage. The vendor will continue to lease the property from Mapletree Logistics Trust for a period of six years with built-in rent escalations from the second year.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.