Mapletree Logistics Trust (MLT) has acquired Higashi Hiroshima Centre for JPY6,370 million (SGD82.1 million).
The asset is a newly built freehold logistics facility located within the Shiwa industrial and logistics cluster.
The cluster is an established industrial and logistics park which has attracted many international third party logistics players as well as local domestic companies, said the REIT.
Higashi Hiroshima Centre is a 2-storey single block dry logistics facility with a total gross floor area of 26,948 square metres.
It sits on freehold land of approximately 85,660 square metres.
The asset is built to modern specifications, including clear height of 5.5 metres and floor loading of 1.5 tonnes per square metre, said the REIT.
The acquisition will be funded by debt and is expected to be accretive at the distribution level.
The REIT’s full announcement on the acquisition can be viewed here.
MLT was last done on the SGX at SGD1.97, which implies a distribution yield of 4.1% according to data compiled on the Singapore REITs table.