Mapletree Kobe (Photo: Mapletree Logistics Trust)

Mapletree Logistics Trust (MLT) has completed the acquisition process of five South Korean properties.

The REIT first announced in February 2021 that it was acquiring the assets for KRW280 billion.

Related: Mapletree Logistics Trust acquires five South Korean assets for KRW280 billion

All the assets are fully leased, and tenants include third-party logistics firms and e-commerce operators such as Dongsan Logistics and TE Logis.

Following the completion of the acquisitions, MLT indirectly wholly owns the logistics assets known as CoreLogis and Gwan-ri and has a 99.9% interest in the logistics assets known as AbleLogis, Bukuk and Dongsan.

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.