SINGAPORE (Aug 28): Mapletree Logistics Trust is acquiring Mapletree Logistics Hub Tsing Yi in Hong Kong for HK$4.8 billion ($834.8 million), the trust manager said in a Monday announcement.

The seller is Mapletree Overseas Holdings, a wholly owned subsidiary of Mapletree Investments.

Mapletree Logistics Hub Tsing Yi is an 11-storey modern ramp-up warehouse with a net lettable area of 148,065 sqm. Located at Tsing Yi, the property is in close proximity to the Kwai Chung-Tsing Yi container terminals, and is also well connected by highways to the city centre, the Hong Kong International Airport and Mainland China.

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