Mapletree Logistics to Buy South Korean Property

News about Mapletree Logistics Trust

Mapletree Logistics Trust is announcing the planned acquisition of an industrial asset in Yongin-Icheon, South Korea. The freehold property, comprising four blocks of dry warehouses, has a total gross floor area of 30,485 m² and is currently leased with a WALE of 6.2 years with built-in annual rental escalations.

The purchase price of about S$41.4 million will be funded by debt. The transaction is expected to be DPU accretive, thanks to a Net Property Income yield of 5.5%.

Mapletree Logistics Trust
Price1.990 SGD
NAV1.180 SGD
Yield (4 quarters)4.08%
Gearing37.5%