Mapletree Logistics completes acquisition of South Korean centre

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

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