Mapletree leans into core strength in US logistics as it winds down student housing fund
Disruptions such as trade tariffs have driven US logistics demand as more warehouse space is being leased on reshoring and supply chain adjustments
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[SINGAPORE] Mapletree Investments is leaning on its strength in logistics to generate returns in its US private funds, even as the Temasek-owned asset manager winds down an underperforming global student housing fund.
Market conditions for logistics real estate in the US are stable, with early signs of improving demand, Mapletree US chief executive Richard Prokup told The Business Times. Rents are expected to be marked up and net property income to improve, with the logistics funds on track to deliver targeted returns, he said in an exclusive interview.
Mapletree owns and manages more than 66 million square feet (sq ft) of industrial assets across the US, where its portfolios span logistics, data centre, office, student housing and multifamily properties. Prokup oversees the group’s non-real estate investment trust (Reit) businesses in the US.
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