Mapletree Logistics Trust (MLT) is investing S$1.4bn (鈧�912m) to buy a portfolio of logistics properties in China, Japan and Vietnam.
The manager said 13 properties in China would be purchased for S$870m from subsidiaries of (the sponsor of MLT) and a subsidiary of Itochu Corporation.
MLT is also acquiring three properties in Vietnam for S$129.9m from a subsidiary of Mapletree Investments.
Separately, the manager proposes to acquire an effective 97% interest in the Kuwana Logistics Centre in Japan in Nagoya, from an unrelated third party for S$416.3m.
The remaining effective interest of 3% in Kuwana will be held by Mapletree Investments Japan Kabushiki Kaisha, a subsidiary of MLT.
Ng Kiat, chief executive officer of the manager, said: 鈥� 鈥淭he acquisitions in China and Vietnam will expand MLT鈥檚 network connectivity in these large growing consumption markets, while the acquisition in Japan will scale up our presence in Greater Nagoya.鈥�
The transactions will be funded through a combination of a S$700m equity fundraising and debt.
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