Key Points
- MapletreeLog acquires N S Tang Building (the “Property”) located at 36 Loyang Drive, Loyang Industrial Estate, Singapore from N.S. Tang (Pte) Ltd (“N S Tang”) at a purchase price of S$13.8 million.
- The acquisition was signed and completed on 24 Dec 2010 upon receipt of JTC’s approval.
- Strategic location and good building specifications for aerospace industry use.
- Initial net property yield of 8% on a 5-year sale-and-leaseback arrangement with annual escalation.
- With the addition of this Property, MapletreeLog's total portfolio will increase to 95 properties and its total book value to approximately S$ 3,471 million.
- This is the last of the four potential acquisitions identified in the recent equity fund raising exercise announced on 21 September 2010 and was
funded from its net proceeds.
- MapletreeLog completes of Acquisition of 44 & 46 Changi South Street 1, Singapore
- Mapletreelog acquires singapore property for S$16.8 million - 2 DEC 2010
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