Mapletree Logisitics Trust has completed the acquisition of KPPC Pyeongtaek Centre in South Korea’s Gyeonggi-do province for about S$85.9 million.
The property, which has been fully funded by debt, is one of the largest facilities in the Gyeonggi-do province, the trust said in a statement.
Mapletree Logistics Trust announced the acquisition in May, saying it is a major step to tap opportunities for organic growth.
The property consists of two blocks of dry goods warehouses with a total gross floor area of about 100,900 square metres.
Source : Channel NewsAsia – 17 Jun 2011