Mapletree Industrial Trust expands high-tech footprint with SGD68 million acquisition


Mapletree Industrial Trust (MIT) has executed a novation agreement in respect to an option to purchase (OTP) with its sponsor, Mapletree Investments, over the property at 7 Tai Seng Drive.

The vendor of the property is another REIT related to the sponsor, Mapletree Logistics Trust (MLT).

The seven-storey property is located within the Tai Seng Industrial Estate, features a gross floor area of about 256,600 square feet, and sits on a land area of about 96,500 square feet.

The site has a land lease tenure of 30 years commencing from 16 March 1993, and an option to extend for an additional 30 years.

To read the full article, please login or subscribe.


Comments are closed.