Mapletree Logistics Trust is announcing the purchase of two properties in India, its firsts in this country so far.
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.
The price of about S$84.2 million and associated fees will be financed by debt.
The trust expects the operation to be DPU accretive. Upon completation, pro forma leverage would be about 40.1%.