Mapletree Logistics Trust's Shiroishi Centre. (Photo: Mapletree Logistics Trust)

In the wake of news that the REIT will dispose two of its properties in Japan, OCBC Investment Research has maintained a ‘Hold’ rating on Mapletree Logistics Trust.

The Singapore-listed industrial REIT announced in late-June 2017 that it will divest the Japanese properties, Zama Centre and Shiroishi Centre, for JPY13,500 million (USD120.5 million or SGD165.4 million).

Read: Mapletree logistics REIT divests two Japanese properties for USD120 million

The REIT is expected to recognise an estimated divestment gain of about JPY234 million (SGD2.9 million) over the original purchase cost after providing for taxes and transaction related expenses, and this will be distributed to unitholders.

OCBC also noted that besides the divestment, the REIT has been actively acquiring other properties front in FY 2017, with eight investments in Australia and one each in Malaysia and Vietnam, for a total acquisition value of about SGD313 million.

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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.