Mapletree Industrial Trust says ‘no certainty’ of any deal, after report on potential US data centre divestment

[SINGAPORE] There is “no certainty or assurance” that any transaction will arise as Mapletree Industrial Trust (MIT) evaluates opportunities related to selective divestments in North America, its manager said on Monday (Aug 31).

The statement, released in a late-night bourse filing, was in response to media reports on the potential divestment of its data centre assets in the US.

Real estate news outlet Mingtiandi had on Aug 28 reported that MIT had put 22 US data centres in 15 states on the market, with the portfolio spanning over 3.1 million square feet.

In the filing, MIT’s manager said that it regularly reviews its portfolio to optimise asset performance, unlock value and recycle capital.

“As previously communicated, MIT is pursuing selective divestments in North America as part of its portfolio rejuvenation efforts and continually evaluates opportunities that are consistent with this strategy,” it said.

“The manager wishes to advise that there is no certainty or assurance that any transaction will materialise from these evaluations,” it added.

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MIT ended Monday at S$1.94, up by S$0.02 or 1 per cent.