MLT to sell Shanghai property Mapletree Northwest Logistics Park for US$48.2 million
The proposed sale is expected to be completed by Q3 FY2027/2028
Mapletree Logistics Trust (MLT) has announced it will sell its Shanghai-based Mapletree Northwest Logistics Park for US$48.2 million to an unrelated third party. The property, consisting of two adjacent phases, was acquired by MLT in 2008 and has a combined gross floor area of approximately 37,558 square metres. HSBC Institutional Trust Services, acting as trustee for MLT, entered into a sale and purchase agreement with a wholly-owned Chinese subsidiary.
The sale price is in line with the valuation price of 323 million yuan as of March 31. Following the divestment, MLT's portfolio is expected to consist of 168 properties. As of June 30, MLT manages a total of 175 properties across various countries, with assets under management valued at S$13.1 billion.
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