534 Bukit Batok Street 23. (Photo: Google Maps)

Asia-focused warehousing REIT, Mapletree Logistics Trust (MLT), has entered into an agreement to divest 531 Bukit Batok Street 23, Singapore for SGD22.4 million (USD16.2 million).

A check by REITsWeek indicates that the REIT has been trying to divest this property since at least March 2017.

The proposed disposal is in line with the REIT’s strategy to divest its low-yielding properties with older warehouse specifications, and limited redevelopment potential.

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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.