Mapletree Industrial Trust divests data centre in Michigan for US$10 mil

News about Mapletree Industrial Trust
Divesting the property was found to be in the best interest of unitholders, says the REIT manager in its June 10 statement.

The manager of Mapletree Industrial Trust (MINT) says it has divested its data centre at 19675 West Ten Mile Road, Southfield, Michigan for US$10.0 million ($13.8 million).

On June 10, the manager announced that the REIT trustee had entered into a sale and purchase agreement with an unnamed third-party purchaser for the proposed divestment.
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Mapletree Industrial Trust
Price1.930 SGD
NAV1.630 SGD
Yield (4 quarters)6.59%
Gearing34.0%