Singapore's Mapletree Industrial Trust sells three properties for $413 million

Mapletree Industrial Trust

16/05/2025 01:12

May 16 (Reuters) - Mapletree Industrial Trust MAPI.SI said on Friday it has agreed to sell three of its Singaporean industrial properties to Brookfield Asset Management BAM.TO for a total of S$535.3 million ($412.82 million).

The properties are being sold to the New York-headquartered asset manager at a 2.6% premium to their independent valuations of S$521.5 million as of March 31.

The price also represents an over 22% increase from their original investment cost of S$438.4 million, Mapletree said.

These three properties, namely The Strategy, The Synergy and the Woodlands Central Cluster, combined accounted for about 6.3% of the company's gross revenue for the financial year ended March 31, it added.

Mapletree said the proposed divestment is expected to be completed by the third quarter of 2025.

($1 = 1.2967 Singapore dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru; Editing by Alan Barona)

 ((Adwitiya.Srivastava@thomsonreuters.com))