Mapletree Logistics Trust divests Tuas property for $10.5m

It sold the 25-year-old property above valuation.

Mapletree Logistics Trust (MLT) will divest 30 Tuas South Avenue 8 for $10.5m, 10.5% above its latest valuation of $9.5m.

MLT expects to complete the divestment by 1Q24/25.

The REIT said the divestment will provide “greater financial flexibility to pursue investment opportunities in high specification, modern logistics facilities with higher growth potential.”

The divested property is part single-storey, part two-storey warehouse with a building age of over 25 years and a net lettable area of 5,233 square metres.

Post divestment, MLT will have 187 properties under its portfolio.

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