Mapletree Logistics to buy US$1bil of assets across Asia - China, Japan and Vietnam main targets

The Japan Property to be acquired is a freehold, 5-storey dry logistics facility with a gross floor area of over 1.7 million square feet. - PHOTO: MAPLETREE LOGISTICS TRUST via The Straits Times/ANN

SINGAPORE, Nov 23 (Bloomberg): Singapore’s Mapletree Logistics Trust is set to acquire assets across China, Japan and Vietnam in deals worth over S$1.4 billion (US$1.03 billion) amid growing consumption of e-commerce in those markets.

The real estate investment trust is purchasing 13 logistics properties in China valued at S$870 million, while the proposed acquisitions of three similar assets in Vietnam are worth S$129.9 million, according to a filing on the Singapore Exchange late Monday. In Japan, Mapletree Logistics agreed to buy a logistics facility for S$416.3 million.