Mapletree Logistics Buys 5 Properties in Singapore From HNA

in Company news

Mapletree Logistics Trust (MLT) will be buying 5 Singapore logistics properties for about S$778M from Chinese conglomerate HNA Group.

With a combined weighted average lease expiry of 8.7 years and built-in rent escalation of 1.5 per cent per annum, the acquisitions are expected to generate an initial net property income yield of approximately 6.2 per cent, based on the purchase price of S$778.3 million.