MapleTree – SGX
MAPLETREELOG ACQUIRES 8th PROPERTY IN JAPAN FOR S$18 MILLION
Singapore, 29 November 2007 – Mapletree Logistics Trust Management Ltd. (“MLTM”), Manager of Mapletree Logistics Trust (“MapletreeLog”), is pleased to announce that MapletreeLog, through its wholly-owned subsidiary, has executed a conditional agreement to acquire the beneficiary interest of a warehouse in Sapporo, Japan, for a total consideration of JPY1.45 billion (approx. S$18.08 million)(1)
The property (“Sapporo Shiroishi Centre”) is located in the Sapporo Logistics Park in Hokkaido, Japan. The vendor of the property is Real Cierto, a real estate developer of various classes of properties, including apartments, offices and shopping centres. The acquisition will be accretive to MapletreeLog’s distribution per unit (“DPU”). The pro forma financial effect of the acquisition on the DPU for the financial year ended 31 December 2006 is an additional 0.02 Singapore cents per unit(2).
(1) Based on exchange rate of S$1.00 = JPY80.19
(2)Assuming MapletreeLog has purchased, held and operated the property for the financial year ended 31 December 2006 (based on 41 properties) and that the acquisition is 100% debt-funded.
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