Mapletree Logistics Trust (MLT) settled the acquisition process of its first-ever assets in India on 25 March.
The REIT first announced on 17 March that it was acquiring two logistics properties in Pune, Maharashtra for SGD84.2 million (USD62 million).
The properties were acquired from an affiliate of Morgan Stanley Real Estate Investing and Waterloo Motors Private Limited.
Following the acquisition, MLT’s portfolio has now increased to 163 properties.
This comprises 52 properties in Singapore, 9 in Hong Kong, 18 in Japan, 30 in China, 12 in Australia, 15 in Malaysia, 18 in South Korea, 7 in Vietnam and 2 in India.
The total value of assets under management by the REIT is now approximately SGD10.6 billion.
MLT was last done on the SGX at SGD1.92, which implies a distribution yield of 4.3% according to data compiled on the Singapore REITs table.