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Mapletree Logistics Trust to pick up 4 Sydney warehouses for A$85m

It expects the acquisition "to be accretive at the distribution level" and the properties are 100% leased out

Published Sun, May 29, 2016 · 09:50 PM

Singapore

FRESH from raising S$250 million through issuing perpetual securities earlier this month, Mapletree Logistics Trust (MLT) has unveiled plans to use up a chunk of the proceeds to scale up in Australia.

The logistics real estate investment trust (Reit) announced plans to pay A$85 million or about S$84.4 million for four dry warehouse facilities in Sydney offering a net property income yield of 7.1 per cent in a Singapore Exchange filing on Sunday evening, adding that it expected the acquisition "to be accretive at the distribution level".

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