The manager of Mapletree Logistics Trust (MLT) says the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a purchase agreement with an unrelated third party buyer for the divestment of its property at 1 Genting Lane.

Under the agreement, the property has a sale consideration of $12.3 million, which is 35.2% above its valuation of $9.1 million as at Oct 1.