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...
Mapletree Logistics Trust (MLT)
MapleTree Logistics said it has acquired 44 and 46 Changi South Street 1 for S$16.8 million from JEP Precision Engineering. JEP Precision Engineering is a local sub-contractor in the aerospace industry, specialising in machining aircraft engine components. JEP will lease back the property for a period of seven years with an option to extend for a further term of seven years. MapleTree can also increase...
Logistics REIT MapletreeLog has acquired another property in South Korea. Worth 28 billion won ($32 million), the property consists of a three-storey warehouse and a four-storey warehouse. The entire property spans 28,700 square metres. Its vendor, Multi-Q Logistics, specialises in the storage and distribution of fast-moving consumer goods, said MapletreeLog. The acquisition is set to boost...