7 Tai Seng Drive (Photo: Mapletree Investments)

Mapletree Logistics Trust (MLT) has completed the divestment of the industrial property at 7 Tai Seng Drive.

In turn, the property has now been inducted by sister REIT, Mapletree Industrial Trust (MIT).

“As part of our continuing efforts to improve the quality and yield of MLT’s portfolio, we are looking to divest 7 Tai Seng Drive, a 20-year old building with older warehouse specifications and limited scope for future enhancement”, said Ng Kiat, CEO of the REIT’s manager, back in August 2017.

Read: Mapletree logistics REIT to divest 7 Tai Seng Drive for SGD68 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.