Mapletree Industrial Trust (MIT) is acquiring the remaining 60% interest in 14 US data centres currently held by Mapletree Redwood Data Centre Trust (MRDCT).
The REIT currently holds a 40% stake in the properties via its interest in MRDCT.
The remaining stake is being acquired at a purchase consideration of USD210.9 million (SGD300 million).
The data centres sit on freehold land and are 97.4% leased to 15 established tenants, including Fortune Global 500 corporations and NYSE or Nasdaq-listed companies, said the REIT.
It has a weighted average lease expiry (WALE) of about 4.6 years, with about 20% of the leases expiring within the next three years.
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