MapletreeLog Acquires 51st Property in Singapore for S$18.3 million - 21 SEP 2010

MapletreeLog Acquires 51st Property in Singapore for S$18.3 million. See:

• Press Release
• Presentation

Key Points

• Mapletree Logistics Trust Management Ltd. (“MLTM”), as Manager of Mapletree Logistics Trust (“MapletreeLog”), is pleased to announce that a Sale and Purchase Agreement has been signed today with AW Transport & Warehousing Pte Ltd (the “Vendor”) for the acquisition of AW Centre (the “Property”) at 73 Tuas South Avenue 1, Singapore 637600 (the “Acquisition”). 
• The Property is a 4-storey single user bonded warehouse with ancillary
  office.
• The Property will be acquired for a purchase consideration of S$18.3 million. The Vendor, a bonded warehouse operator, will lease back the Property for a period of 7 years, with an option to extend for a further period of 7 years.
• Including all the acquisitions announced to date, this latest Acquisition will bring total book value of MapletreeLog’s investment properties to approximately S$3.34 billion.
• The Acquisition is subject to JTC’s approval and is expected to be completed by 4Q of 2010. It is intended that the Acquisition will be fully funded by proceeds raised in the latest equity fund raising exercise (announced on the same day as this announcement).