Mapletree Logistics Trust to acquire Hong Kong warehouse for HK$4.8b
Mapletree Logistics Trust has acquired Mapletree Logistics Hub Tsing Yi in Hong Kong for about HK$4.8 billion ($613 million).
The warehouse property has a net lettable area of 1.59 million square feet, spanning 11 stories.
The property is 100 percent occupied and leased to 12 tenants. Tenants include Ever Gain, Adidas, HKTV and DKSH.
The property is near the Kwai Chung-Tsing Yi container terminals and is connected by highways to the Hong Kong International Airport and the Mainland China boundary. [A little confusing?]
The acquisition will be funded by the company's equity and debt.