Mapletree Logistics Trust to acquire nine logistics properties

Mapletree Logistics Trust has plans to acquire nine logistics properties in China, Malaysia and Vietnam. In addition, the firm is also acquiring the remaining 50 percent interest in 15 logistics properties in China.

The seven properties and the portfolio purchase in China are estimated to be valued at more than $667 million. The property in Malaysia is valued at $97 million, and the property in Vietnam is valued at $22 million.

Collectively, the properties are being sold by subsidiaries of Mapletree Investments the sponsor of Mapletree Logistics Trust Management, and subsidiaries of Itochu Corp.

Ng Kiat, CEO of Mapletree Logistics Trust Management, said, "The acquisition of these properties in high-growth markets is a continuation of our long-term strategy to deepen MLT's network connectivity to better serve our customers' regional requirements, enabling them to access large consumption hubs within a short delivery time.”

The properties are located in t