Mapletree Logistics Buys 5 Korean Properties

News about Mapletree Logistics Trust

Mapletree Logistics Trust is acquiring five logistics assets in South Korea.

Assets

The five properties, all located south of Seoul, are all freehold and 100% occupied, with a WALE of 1.7 year and an NPI of 4.5%.

Financing

The S$334.8 million purchase is expected to be funded by debt, pushing gearing ratio of the trust to 38.9%.

Expectations

The manager expects the purchase to be yield accretive. This increase the trust exposure to South Korea from 15% to 25%.

Mapletree Logistics Trust
Price2.040 SGD
NAV1.320 SGD
Yield (4 quarters)4.14%
Gearing38.2%