Mapletree Industrial Trust to obtain data centre in Osaka

The acquisition would grow the company's portfolio to $9.3b.

Mapletree Industrial Trust (MIT) is acquiring a newly built data centre in Osaka, Japan, after purchasing the trust beneficial interest worth ¥52b ($507.9m), the company stated in its SGX filing.

By purchasing the conditional trust beneficial interest purchase and under the share agreement with the third-party vendor, Suma Tokutei Mokuteki Kaisha, Mapletree would acquire an interest of 98.47% in the property.

The multi-storey property is in Osaka's prime central business district and close to its critical network hubs, which host multiple internet exchanges and offer dense connectivity and low latency.

READ MORE: Mapletree Industrial Trust's net property income rises 9.7% YoY to $518m in FY22/23

Post-acquisition, Japan will account for 5.5% of the company's portfolio.

Once the acquisition is complete, MIT's assets under management or AUM will grow to $9.3b from $8.8b. Data centres under the company will also increase to 56.3% from 53.7% of MIT's AUM.