Mapletree Logistics purchases two logistics facilities for $83.9m
In two different locations in one country.
Mapletree Logistics stays positive in its development plans as it continues to expand overseas.
Recently, MLT has purchased two China logistics facilities, Mapletree Yangshan Bonded Logistics Park (SGD 41.1m) and Mapletree Zhengzhou Logistics Park (SGD42.8m) from its sponsor.
OSK-DMG sees this as a positive development for MLT. The two properties have an initial NPI yield of 7.5% vis-a-vis its existing portfolio yield of 6.5%. They will be fully debt-funded and MLT's gearing will increase accordingly to 35.2% from 33.9%.