Mapletree Logistics Enters Indian Market

News about Mapletree Logistics Trust

Mapletree Logistics Trust is announcing the purchase of two properties in India, its firsts in this country so far.

Assets

The purchased assets, located around Pune, are:

  • A 4 blocks single-storey warehouse, fully occupied, with 88 years left on the land tenure
  • A 2 blocks single-storey, 88% occupied, with 86 years remaining on the land tenure

Together, they have a 2.2 years WALE and a total of 87,256 m² NLA.

Financing

The price of about S$84.2 million and associated fees will be financed by debt.

Expectations

The trust expects the operation to be DPU accretive. Upon completation, pro forma leverage would be about 40.1%.

Mapletree Logistics Trust
Price1.970 SGD
NAV1.330 SGD
Yield (4 quarters)4.23%
Gearing38.4%