Key Points
- MapletreeLog has acquired a five-storey warehouse cum office building located at 15A Tuas Avenue 18, Singapore from Jian Huang Engineering Pte Ltd for a consideration of S$24.5 million.
- Under the sale-and-leaseback arrangement, the Property will be leased to the Vendor for a period of seven years with a built-in rental escalation of 2% per annum and an option for extension for a further seven years.
- The Manager intends to fund the acquisition using proceeds from planned divestments, details of which will be announced in due course.
- In the interim, the acquisition will be funded through debt and gearing is expected to temporarily increase to approximately 40%.
- With this acquisition, MapletreeLog's total portfolio will be increased to 98 properties with a total book value of approximately S$3,609 million.
Related Posts
- MapletreeLog completes of Acquisition of 44 & 46 Changi South Street 1, Singapore
- Mapletreelog acquires singapore property for S$16.8 million - 2 DEC 2010
- MapletreeLog acquires N S Tang Building - 24 DEC 2010
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