Mapletree Logistics Trust has received approval from its unitholders to acquire 50% indirect interests in 11 properties across China, and has launched a private placement to fund the purchase.

The acquisition will cost approximately RMB985.3 million (USD152 million), and the remaining 50% interest in the each of the properties will be held by subsidiaries of the REIT’s sponsor, Mapletree Investments.

All 11 properties are logistics facilities developed by the sponsor, with a portfolio median age of 1.7 years.

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