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Mapletree Expands U.S. Logistics Holdings with $3B of Acquisitions
Singapore-based Mapletree Investments Pte Ltd has acquired two portfolios of U.S. logistics assets encompassing 141 income-producing assets for a total of approximately US$3 billion. The company didn’t identify the seller or sellers.
The first portfolio, totaling 6.1 million square feet, comprises 24 properties across the Dallas, Memphis, Greater Chicago, Central Florida and Boston markets. The second portfolio comprises 117 assets spanning 22.3 million square feet across Greater Chicago, the Carolinas, Memphis, Houston and Washington DC / Baltimore.
“The U.S. logistics sector is among the best performing and most resilient of all the real estate markets in which Mapletree operates globally,” said Michael Smith, regional CEO of Europe and USA. “By combining these recently acquired assets with 14 logistics facilities that we currently own, we have attained sufficient scale and investor interest to create a fourth US focused private fund with a fully seeded portfolio of 155 logistics assets.”
- ◦Sale/Acquisition
