Stock News: Mapletree Logistics Trust Management Ltd agreed to buy warehouse for 13 mln sgd!

Mapletree Logistics Trust Management Ltd said unit Mapletree Logistics Trust has agreed to buy a warehouse in Singapore from Trivec Singapore Pte Ltd for 13.0 mln sgd. The deal has been structured as a sale and leaseback transaction, where the seven-story warehouse will be leased back to Trivec for five years, with an option to extend for another term of five years thereafter. The acquisition, which is earnings accretive, is expected to be completed by end-September and will be funded by debt, Mapletree said. The newly refurbished warehouse, which has a gross floor area of about 11, 202 sqm, is located within an industrial estate at Joo Seng Road.