News Details :
News Details:
Headline : United States : Dentons Rodyk acting for Mapletree Logistics Trust in its proposed acquisition of five Singapore properties for S$778.3m
Summary : Dentons Rodyk is acting for Mapletree Logistics Trust Management Ltd., the Manager of Mapletree Logistics Trust (MLT) (being the first Asia-focused logistics REIT in Singapore), in MLTs proposed acquisition of five modern, ramp-up logistics properties from Hong Kong-listed CWT International Limited (a wholly-owned subsidiary of Chinese conglomerate HNA Group), for an estimated acquisition purchase price of S$778.3 million.

The sum comprises the aggregate purchase consideration of S$730 million, and aggregate estimated upfront land premium of S$48.3 million for the balance lease terms payable to JTC Corporation. The deal is slated for completion in the later part of this year, after which, Mapletree's total assets under management will increase to about S$7.6 billion.

The Properties comprise a total gross floor area of approximately 3,212,045 sqft. They are located in three key logistics clusters in the western part of Singapore close to the PSA Terminals, Jurong Port, and a majority of the container yards in Singapore, and also have good connectivity to major transport infrastructure.

Mapletree is a leading real estate development, investment and capital management company headquartered in Singapore. It currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, the United Kingdom (UK) and the United States (US).

The Real Estate team led by Senior Partner Pat Lynn Leong was supported by Partner Claire Wu, Senior Associate Lynette Khoo, and Associates Jarren Loe, Kehua Tan and Rebecca Tan. Also involved in this project were Senior Partner Doreen Sim and Partner Kee Min Lee from the Banking and Finance team, and Senior Partner Wan Hong Chan and Senior Associate Karen Hsu from the Corporate team.