DBS Group Research is keeping its “buy” recommendation on Mapletree Industrial Trust with a target price of $3.25.

Equinix Singapore has exercised its option to purchase 26A Ayer Rajah Crescent at a proposed selling price of $125 million. The property is MINT’s first built-to-suit data centre development project in Singapore post its listing.

This option to purchase by the tenant was part of the lease agreement signed on March 1, 2015, when MINT announced the proposed development of this built-to-suit project.

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