Chakan MIDC (Photo: Mapletree Logistics Trust)Chakan MIDC (Photo: Mapletree Logistics Trust)

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.

Related: Mapletree Logistics Trust marks first foray into India with SGD84.2 million acquisition

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.

By Shariffa Al-Habshee

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