Singapore-listed industrial REIT, Mapletree Logistics Trust, is divesting a 20-year old seven-storey warehouse located at 7 Tai Seng Drive for SGD68.0 million (USD49 million).
An option to purchase (OTP) on the property has been granted to the REIT’s sponsor, Mapletree Investments Pte Ltd.
The sale is subject to approval from Singapore’s industrial space regulatory body, JTC Corporation.
The proposed divestment is the second to be announced by the REIT since the start of August 2017.
On 3 August, Mapletree Logistics Trust disclosed that it has entered into an agreement to divest 4 Toh Tuck Link for SGD14.5 million.