Monday, December 28, 2009

MapletreeLog buys Japan warehouse for S$68 mln

Mapletree Logistics Trust has signed a conditional sale and purchase agreement to buy a warehouse in Japan for about S$68 million (JPY4.36 billion).

The yield of the property at 7.26 per cent is higher than the implied property yield of the existing Japan portfolio of 4.5 per cent.

The acquisition will be accretive to MapletreeLog’s distribution per unit (DPU).

The proforma financial effect of the acquisition on the annualised DPU (based on actual 9 months financial results for 2009) is an additional 0.103 Singapore cents or 1.75 per cent.

Source: Business Times, 28 Dec 2009

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