Mapletree Logistics Trust to buy Mumbai Grade A warehouse for $53.6m

The property comprises two blocks of single-storey logistics facilities.

Mapletree Logistics Trust Management Ltd., manager of Mapletree Logistics Trust (MLT), has announced a proposed acquisition of a Grade A warehouse in Bhiwandi, Mumbai, Maharashtra, India, for $53.6m (INR3.89b)

The acquisition will be carried out through the purchase of an investment holding company and a property holding company from unrelated third parties, according to a filing on 21 March.

The property comprises two blocks of single-storey logistics facilities with a net lettable area of 79,378 square metres and was completed in August 2025.

It is fully leased to two listed food and grocery e-commerce companies, with a remaining weighted average lease term of 3.9 years and built-in annual rental escalations.

The warehouse features full LED lighting, roof skylights, wall and roof insulation, and is ready for solar panel installation.

MLT said the property was independently valued by Savills Property Services (India) Pvt. Ltd. at $54.1m (INR3.95b) as at 28 February 2026.

The acquisition will be fully funded by debt and is expected to be completed by the fourth quarter of the financial year ending March 2026, subject to the satisfaction of conditions precedent.

The group’s aggregate leverage ratio is expected to increase to 40.9% from 40.7% as at 31 December 2025 on a pro forma basis, following the completion.

$1 = INR72.5