Mapletree Logistics Trust announced on Oct 19 it planned to acquire a portfolio of properties from its sponsor Mapletree Investments for $1,040 million, 1.7% below the agreed property value by an independent valuer appointed by the REIT’s trustees. Including expenses, the total acquisition cost is expected to be $1,090.2 million. The acquisitions are expected to add 1.3% to DPU on a pro forma basis raising it to 8.25 cents, and 6.6% to NAV taking it to $1.28. Gearing is likely to fall from 39.5% as at Sept 30, 2020, to 37.1% on a pro forma basis.

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