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Mapletree closes US$552 mil maiden US office fund

Atiqah Mokhar
Atiqah Mokhar9/23/2021 01:00 PM GMT+08  • 3 min read
Mapletree closes US$552 mil maiden US office fund
The fund has a target IRR of 12%.
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Mapletree Investments has closed its maiden US office fund, Mapletree US Income Commercial Trust (MUSIC) with US$552 million ($745.2 million) in total fund equity.

In a media release by Mapletree on Sept 23, the group says strong participation was seen from new and repeat investors comprising pension funds, insurance companies, investment companies, asset managers and private banking clients.

The trust has a target internal rate of return (IRR) of 12%, which Mapletree says represents both a yield plus growth total return from a resilient and income-generating portfolio.

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