Mapletree Logistics to buy properties across Asia for $1b

Mapletree Logistics Trust has plans to acquire 17 assets across China, Japan and Vietnam in deals worth more than S$1.4 billion ($1.03 billion), and totaling 1.2 million square meters (13 million square feet), according to a filing.

The firm has acquired 13 properties in China, specifically the cities of Chongqing, Harbin, Tianjin, Kunming, Wenzhou, Xi’an, Yangzhou, Yantai, Yixing, Yuyao, Yuyao 2, Zhengzhou and Zhongshan. The properties in China are being acquired from MLT sponsor Mapletree Investments as well as Itochu Corp.

In addition, three properties in Vietnam were purchased — Mapletree Bac Ninh 4, Mapletree Bac Ninh 5 and Mapletree Logistics Park 5. The seller is Mapletree Investments.

The final property is a 97 percent interest in Kuwana Logistics Centre located in Greater Nagoya, Japan. The acquisition is from an unrelated th