Mapletree Logistics Trust is acquiring five logistics assets in South Korea.
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%.
The S$334.8 million purchase is expected to be funded by debt, pushing gearing ratio of the trust to 38.9%.
The manager expects the purchase to be yield accretive. This increase the trust exposure to South Korea from 15% to 25%.