The properties consist of five purpose-built dry storage, high specifications logistics warehouses located within Yongin-Icheon, an established logistics cluster in the Seoul Metropolitan Area of South Korea.
Mapletree Logistics Trust (MLT) has acquired the interests in a portfolio of five modern, freehold logistics properties based in South Korea.
The interests were acquired – through five sale and purchase agreements on Feb 15 – at a consideration of 280.0 billion won ($334.8 million), which will be satisfied fully in cash.
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