MAPLETREE Logistics Trust (MLT) has entered into a conditional forward purchase agreement to acquire a warehouse in Australia for A$18.4 million (S$17.4 million) from Wooreddy Investments.
The property is a one-storey logistics facility to be constructed in Truganina, Melbourne. It is sited on freehold land of 25,650 square metres (sq m) and will have a net lettable area of 15,100 sq m when completed.
The property is designed with Grade A specifications, including a minimum clearance height of 10 metres and floor loading capacity of 30 kN/sq m. It will also be equipped with an ESFR sprinkler system and a 2,000 sq m super canopy, a differentiating feature that allows users to operate under any weather conditions, said MLT.
The warehouse will be acquired with vacant possession and settlement is expected to take place by the third quarter of 2020.
The acquisition will be funded by debt. Upon settlement, MLT's aggregate leverage ratio is projected to increase by 0.1 per cent to 36.9 per cent.
The counter closed flat at S$1.58 on Tuesday.