Mapletree Logistics Trust (MLT) is acquiring five ramp-up logistics properties across Singapore for an estimated purchase price of SGD778.3 million (USD570 million)
The properties are being acquired from CWT Pte Ltd and its subsidiaries, on a sale-and-leaseback arrangement.
The properties are namely 4 Pandan Avenue, 52 Tanjong Penjuru, 38 Tanjong Penjuru, 6 Fishery Port Road, and 5A Toh Guan Road East.
The buildings feature a weighted average age of 4.8 years by net lettable area, and a total gross floor area of 3.2 million square feet.
“Ramp-up warehouses are more attractive to potential tenants as compared to conventional cargo-lift warehouses”, said the REIT.
“They provide direct vehicular access to all levels and offer greater efficiency in the movement of cargo as well as lower operating and maintenance costs”, the REIT added.