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Mapletree Logistics Trust eyes $41.4 mil acquisition of logistics property in South Korea

Stanislaus Jude Chan
Stanislaus Jude Chan1/22/2020 08:49 PM GMT+08  • 2 min read
Mapletree Logistics Trust eyes $41.4 mil acquisition of logistics property in South Korea
Based on the purchase price, the acquisition is expected to generate stabilised NPI yield of 6.4%. It is also expected to be accretive at the distribution level.
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SINGAPORE (Jan 22): Mapletree Logistics Trust (MLT) is acquiring DC Deokpyung, a logistics property in South Korea, for 35.8 billion Korean won ($41.4 million), the manager announced on Wednesday.

The property is located in Yongin-Icheon, a prime logistics cluster in the south-east region of the Seoul Metropolitan Area, which is the largest logistics hub in South Korea, accounting for 70% of the country’s total warehouse supply.

Comprising four blocks of dry warehouses, the property has a total gross floor area of 30,485 sqm sited on freehold land of approximately 45,935 sqm.

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