Mapletree Logistics Trust to divest 2 Japan properties for $165 mil

SINGAPORE (June 30): Mapletree Logistics Trust’s (MLT) Japan-incorporated special purpose entity has entered into a sale and purchase agreement to divest two 4-storey warehouses in Japan for a total consideration of 13.5 billion yen ($165.4 million).

These are the 41,170 sq m Zama Centre warehouse in Kanagawa prefecture, and the 11,181 sq m Shiroishi Centre warehouse in Hokkaido prefecture.

The agreed sale consideration is 10% above the original purchase price in 2007, and 32% above the latest valuation as at end-March 2017.

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