Singapore-listed industrial REIT, Mapletree Logistics Trust, announced on 14 September that it has inducted a logistics park in Shah Alam, Malaysia, into its portfolio of properties.

The asset, known as the Mapletree Shah Alam Logistics Park, was inducted on the same day of the announcement.

It is the REIT’s fifth logistics facility in the Shah Alam area, and its 15th in Malaysia overall.

Mapletree Logistics Trust first announced in June 2016 that it was acquiring the business park property for MRY160 million (SGD52.8 million), and indicated that it expects a net property income yield of 7.5% for the purchase.

The property is located within the Shah Alam Industrial Park, features three blocks of single storey multi-tenanted warehouses with mezzanine offices, and has a total gross floor area of about 60,905 square metres.

The facility 100% leased to primarily third party logistics service providers and has a weighted average lease expiry (WALE) of 1.7 years.

With this acquisition, the REIT’s portfolio has now increased to 123 properties with a total book value of SGD5.2 billion.

This comprises of 51 logistics properties in Singapore, eight in Hong Kong, 22 in Japan, 11 in South Korea, nine in China, five in Australia, 15 in Malaysia and two in Vietnam.

Units of Mapletree Logistics Trust finished the trading day unchanged from its previous close on the Singapore Exchange at SGD1.06.