Mapletree Industrial Trust (MIT) is acquiring a nine-storey mixed-use property at 18 Tai Seng Street in Singapore for a purchase consideration of SGD268.3 million (USD195 million).

The property is being acquired from a wholly-owned subsidiary of the REIT’s sponsor, Mapletree Investments, and will be effected via a conditional shares purchase agreement of an entity that holds the property.

18 Tai Seng Street features a total gross floor area of about 443,810 square feet, including industrial, office and retail spaces.

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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.