According to the trust, the divestments are in line with the manager’s efforts to “rejuvenate” its portfolio through selective divestments. Capital from the divestments are expected to provide MLT with greater financial flexibility to pursue investment opportunities in high specification, modern logistics facilities with higher growth potential, adds the trust.
The manager of Mapletree Logistics Trust (SGX:M44U
) (MLT) has announced that the trust’s trustee, HSBC Institutional Trust Services (Singapore) Limited, entered into sale and purchase agreements with a third-party buyer to divest its Toki Centre and Aichi Miyoshi (SGX:M03) Centre properties in Japan.
The divestment, which has been completed, had a sale consideration of JPY4,250 million ($37.5 million).
