Mapletree Industrial Trust and Mapletree Investments to acquire US$1.4 bil data centre portfolio in North America

Uma Devi
Uma Devi9/16/2019 09:58 PM GMT+08  • 2 min read
Mapletree Industrial Trust and Mapletree Investments to acquire US$1.4 bil data centre portfolio in North America
Digital Realty will continue to manage the three hyper-scale data centres and 10 Powered Base Building data centres for a one-year transition period.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Sept 16): Mapletree Industrial Trust (MIT) and Mapletree Investments have formed a joint venture to acquire a US$1.4 billion ($1.9 billion) data centre portfolio in North America. The acquisition is expected to be DPU and NAV accretive to unitholders, says the manager of MIT.

The manager of MIT said it plans to raise at least $350 million via a private placement to partially fund the acquisition. It plans to sell 158.3 million new units priced at between $2.211 and $2.265 each. Debt financing will also be used to fund the remainder.

The portfolio consists of 10 data centres from seller Digital Realty at a purchase consideration of US$557.3 million ($774.2 million). The JV will also enter into a joint venture with Digital Realty to acquire an 80% stake in three existing Digital Realty hyper-scale data centres at a purchase consideration of US$810.6 million ($1.13 billion).

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now