SINGAPORE- Mapletree Logistics Trust (MLT) has signed a put and call option agreement to acquire a warehouse in Singapore for $43 million (US$31 million), the property trust said on Monday.

The vendor of the property, located at 7 Penjuru Close, is SH Cogent Logistics Pte Ltd, which will lease back the property for an initial term of seven years with a rental escalation of 2 per cent per year from the second year onwards – with an option to extend for another three years and thereafter, for another four years.

SH Cogent is a total logistics solutions provider, providing services such as sea freight-forwarding, container leasing, hazardous cargo and chemical handling & storage and supply chain management, storage and packing services for import and export of vehicles.

The acquisition will be accretive to MLT’s distribution per unit (DPU). The pro forma financial effect of the acquisition on the annualised DPU (based on actual nine months financial results for 2009) is an additional 0.04 Singapore cents.