Singapore sovereign wealth fund-backed REIT, Mapletree Logistics Trust (MLT), is divesting a property in Shanghai to a subsidiary of Nasdaq-listed GDS Holdings Limited.

The divestment is being carried to increase the REIT’s financial flexibility, such that it can pursue investments in higher quality assets, its manager said.

The property in question is WaiGaoQiao Logistics Park, a bonded warehouse complex located in Shanghai’s WaiGaoQiao free trade zone (FTZ).

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.