Mapletree logistics REIT to divest 7 Tai Seng Drive for SGD68 million

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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.

Read: Mapletree logistics REIT to divest Toh Tuck Link warehouse for SGD14.5 million

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About Author

Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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