Mapletree Logistics sells two Japanese warehouses for 13.5b yen

Singapore

MAPLETREE Logistics Trust (MLT) is selling two warehouses in Japan for 13.5 billion yen (S$165.4 million), figuring that the flexibility of cash on hand is worth more than holding old properties with limited upside. The warehouses are being sold to Godo Kaisha Asset Toshi Jigyo 4 Go.

The 10-year-old Zama Centre in Kanagawa prefecture has 41,170 square metres of gross floor area, while the 43-year-old Shiroishi Centre in Hokkaido has 11,181 sq m of gross floor space.