Mapletree spends $3b on U.S. logistics

Singapore-based Mapletree Investments Pte Ltd has acquired two portfolios of 141 logistics assets in the United States for $3 billion. The sellers were not reported.

One portfolio consists of 24 assets totaling 6.1 million square feet of net leasable area across Dallas, Memphis, Greater Chicago, Central Florida and Boston. The second portfolio includes 117 assets spanning 22.3 million square feet of net leasable area across Greater Chicago, the Carolinas, Memphis, Houston and Washington, D.C./Baltimore.

“The U.S. logistics sector is among the best performing and most resilient of all the real estate markets in which Mapletree operates globally,” said Michael Smith, Mapletree's regional chief executive of Europe and the United States. “By combining these recently acquired assets with 14 logistics facilities that we currently own, we have attained sufficient scale and investor interest to create a fourth U.S.-focused private fund with a fully seeded portfolio of