apletree Logistics Trust Management Ltd., as manager of Mapletree Logistics Trust (MLT), has announced the proposed acquisition of two logistics properties in Pune, India, through the acquisition of a property holding company for a property purchase price of INR 4.55 billion (S$84.2 million/$63 million ).
The properties are being acquired from a subsidiary of an affiliate of Morgan Stanley Real Estate Investing and Waterloo Motors Private Ltd.
The properties have a combined gross floor area of 89,229 square meters (960,450 square feet) and are purpose-built with modern logistics specifications. The properties are 98.2 percent leased to a tenant base comprising mostly multinational corporations, such as Kawasaki and Hyundai.
Ng Kiat, CEO of the manager, said, “This will be MLT’s f
