Mapletree Logistics Trust may expand into new APAC markets: analyst
It just recently bought a logistics portfolio worth $1.54b in Europe and the US.
Mapletree Logistics Trust (MLT) is likely to remain active in expanding its logistics footprint, particularly on the Asia Pacific region for the near-term, OCBC Investment Research (OIR) said.
“Thereafter, management would likely be open to exploring opportunities in new markets, in our view, but would evaluate all potential transactions prudently,” OIR noted.
Its potential acquisition moves will seal stabilisation for its assets portfolio acquired throughout the US and Europe, they added.
In 3 October, MLT purchased a logistics portfolio from Prologis which are located across Chicago, Dallas, Seattle, as well as Paris and Warsaw. The deal hit $1.54b.
Locally, its eyes to acquire five ramp-up warehouses worth $778.3m from CWT. With a combined gross floor area (GFA) of 3,212,045 sqft, these properties are located in Pandan Avenue, Tanjong Penjuru, Fishery Port Road, and Toh Guan Road East.
In Q2, the firm reported that its net property income (NPI) rose 11.1% YoY to $89.8m. Its revenue grew 11.1% YoY to $89.8m from $80.84m.