Mapletree Logistics Trust buys Korean warehouse for $31 million
Published on May 26, 2014 8:52 PM
SINGAPORE - Mapletree Logistics Trust (MLT) has agreed to acquire a warehouse in South Korea for KRW25.5 billion (S$31.2 million).
The acquisition Daehwa Logistics Centre from Daehwa Logistics Co is line with the trust manager's strategy to rebalance MLT's portfolio towards the higher growth markets and expand presence in South Korea.
The Property is a three-storey Grade A dry warehouse with a gross floor area of some 25,600 square metres (sqm).
It adheres to modern specifications, including a floor to ceiling height of 10 metres, floor loading capacity of 2.7 tonne per sqm, dual layer walls to prevent dew condensation and direct ramp access to all three floors.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here