Mapletree Logistics Trust to sell Australian property for $50.4m

Proceeds will be used to pursue high-specification and modern logistics properties.

Mapletree Logistics Trust (MLT) will divest 28 Bilston Drive, Barnawartha North, Victoria, Australia, for $50.4m (AUD60m) through an indirect wholly-owned sub-trust.

The sale is part of MLT’s strategy to refresh its portfolio by selling assets that no longer fit its investment focus.

Proceeds from the sale will provide the trust with enhanced financial flexibility to invest in high-specification, modern logistics facilities with stronger growth potential.

“Australia remains a key market for MLT with 13 assets post divestment, while developed markets continue to account for over 70% of MLT’s portfolio,” said Jean Kam, CEO of the Manager.

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