Mapletree Industrial Trust inducts former property of sister REIT

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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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