As part of ongoing efforts to reduce its exposure to single-tenant assets, logistics REIT Mapletree Logistics Trust (MLT) has entered into a contract to sell its Australian property at 28 Bilston Drive, Barnawartha North, Victoria.
It will be divested for AUD60.0 million, equivalent to approximately SGD50.4 million, said the REIT on 14 August.
The single-storey warehouse spans over 57,440 square metres and has been operational for more than 19 years.
Located in the regional market of Wodonga on the Victoria-New South Wales border, the property is currently leased to a single tenant, said the REIT.
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