Mapletree Industrial Trust (MIT)

Mapletree Industrial Trust posts 4% rise in 2Q DPU on revenue contribution from new projects

SINGAPORE (Oct 23): The manager of Mapletree Industrial Trust (MIT) has announced a 4.0% rise in distribution per unit (DPU) to 3.13 cents for the 2Q19/20 ended September, compared to DPU of 3.01 cents a year ago.

Distributable income grew 12.1% to $63.5 million in 2Q19/20, from $56.7 million a year ago.

The increase is on the back of a 10.5% growth in revenue to $101.9 million during the quarter, largely attributed to new revenue contributions from 18 Tai Seng, 30A Kallang Place, and Mapletree Sunview 1.

Mapletree Industrial Trust raises $400 mil in private placement to help fund new acquisition

SINGAPORE (Sept 18): Mapletree Industrial Trust (MIT) has closed an upsized private placement of a total of 176.6 million new units at $2.265 each – the top of the issue price range – to raise gross proceeds of nearly $400 million.

The private placement was approximately 6.3 times covered, after taking into account the exercise of the upsize option to issue 18.3 million additional new units.

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

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.

Mapletree's trio dominates real estate investment trust sector

SINGAPORE (Sept 16): In the last 20 years, the growing universe of real estate investment trusts — with its track record of comparative stability and steady returns and a combined market value of about $100 billion — has helped the Singapore Exchange become a global hub for REITs to list. 

Still, despite the entry of more foreign players, the Singapore-based plays have held their own. For this year’s Billion Dollar Club awards, the Mapletree family made a clean sweep in the REITs and business trusts sector.

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MIT continues to eye potential acquisitions despite slowing economy

SINGAPORE (July 25): Mapletree Industrial Trust (MIT) saw a strong set of 1Q20 results, thanks to continued investment in new and refurbished assets.

See: Mapletree Industrial Trust posts 3.3% rise in 1Q DPU to 3.10 cents

This includes local properties such as 18 Tai Seng, 30A Kallang Place and the newly-built data centre at Mapletree Sunview 1 as well as its strong presence overseas.

Mapletree Industrial Trust posts 3.3% rise in 1Q DPU to 3.10 cents

SINGAPORE (July 23): The manager of Mapletree Industrial Trust (MIT) has announced distribution per unit (DPU) of 3.10 cents for the 1Q19/20 ended June, some 3.3% higher than DPU of 3.00 cents a year ago, despite an enlarged unit base.

Distributable income for 1Q19/20 grew 11.1% to $63.2 million, driven by higher net property income and income contribution from MIT’s 40% interest in the portfolio of 14 data centres in the US.

Mapletree Industrial Trust to redevelop Kolam Ayer 2 flatted factory cluster for $263 mil

SINGAPORE (July 10): Mapletree Industrial Trust (MIT) will be redeveloping the Kolam Ayer 2 flatted factory cluster into a high-tech industrial precinct.

Expected to be completed by second half of 2022, the total project is estimated to cost $263 million and will be MIT's largest redevelopment project to date.

MIT manager Mapletree Industrial Trust Management (MITM) says the redevelopment is in line with its strategy to build a portfolio of assets for higher value uses and will help unlock value in MIT’s portfolio.

Mapletree Industrial Trust posts 4.4% rise in 4Q DPU to 3.08 cents

SINGAPORE (Apr 22): The manager of Mapletree Industrial Trust (MIT) has announced a weighted average distribution per unit (DPU) of 3.08 cents for the 4Q18/19 ended March, some 4.4% higher than DPU of 2.95 cents a year ago.

This brings full-year DPU for FY18/19 to 12.16 cents, up 3.5% from DPU of 11.75 cents for FY17/18.

4Q18/19 gross revenue grew 9.3% to $98.8 million, from $90.4 million a year ago.

Mapletree Industrial Trust announces private placement to raise at least $175 mil

SINGAPORE (Feb 11): The manager of Mapletree Industrial Trust (MIT) has proposed a private placement to raise gross proceeds of at least $175 million to partly refinance the acquisition of 18 Tai Seng Street.

Some $172.1 million, or 98.3% of the gross proceeds of the private placement, will go towards refinancing for the acquisition of the property, which was completed on Feb 1. The remaining $2.9 million will be used to pay the estimated fees and expenses incurred in connection with the private placement.

Mapletree Industrial Trust posts 6.6% increase in 3Q DPU to 3.07 cents on share of profit in JV

SINGAPORE (Jan 22): The manager of Mapletree Industrial Trust (MIT) announced a 3Q18/19 DPU of 3.07 cents, 6.6% higher compared to 2.88 cents in 3Q17/18.

Amount available for distribution was 9% higher at $58.3 million from $53.5 million a year ago.

Gross revenue for the quarter was 2.3% higher at $93.6 million from $91.5 million last year, largely due to contribution from Phase One of the build-to-suit (BTS) project for HP Singapore for a full quarter after the expiry of rent-free period as well as new contribution from Mapletree Sunview 1 and 30A Kallang Place

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