SINGAPORE: Mapletree To Acquire 14 Data Centers In The Us Through Joint Venture - CALIPHATE MEDIA

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Sunday, 5 November 2017

SINGAPORE: Mapletree To Acquire 14 Data Centers In The Us Through Joint Venture

Mapletree Benoi Logistics Hub

SINGAPORE – Mapletree Investments Pte Ltd (MIPL) and Mapletree Industrial Trust (MIT) have reach an advance stage in the formation of a joint venture with intention of acquiring14 data centres in the US for USD750 million.
The Joint Venture entered into will lead to the formation of Mapletree Redwood Data Centre Trust (MRDCT) to co-invest in a portfolio of 14 data centres in the US from Carter Validus Mission Critical REIT.

Under the Joint Venture agreement, Mapletree Investments Pte Ltd will have 60% interest in Mapletree Redwood Data Centre Trust (MRDCT)  while Mapletree Industrial Trust (MIT)  will  the remaining 40% interest.

 Image result for data centres'
The 14 data centre due for acquisition JV are all well located around known data centre markets across the US and are sited on freehold land of about 2.3 million square feet.
MIPL Chief Executive Officer,  Hiew Yoon Khong said” The Target Portfolio is anchored by long leases from established tenants, including Foryune 500 Corporations and NYSE-listed companies”
“The proposed acquisition marks another milestone in our strategy to broaden our investments into sustenable growth sectors in developed economies” he said
“The JV will enable MIT to leverage on MIPL’s financial strength, local market experience and resources in the US and ensure a smooth continuation of the operations” he added
The deal is expected to be sealed toward the end of the year, 2017.

Mapletree Investments Pte Ltd  is a  Singapore based   real estate development, investment and capital management company. Mapletree Investments operates as a private equity firm and provides real estate investment management services.
Currently, Marpletree investment pte ltd manages four Real Estate Investment Trust (“REITs”) that are listed on the Singapore stock exchange and six real estate funds that are privately held.. The company had in In February 2017 acquired Oakwood Worldwide. The acquisition was part of the company long-term strategy to strengthen its corporate housing and serviced apartment business.

MAPLETREE Industrial Trust (MIT)

Mapletree Industrial Trust (MIT) is a Singapore listed Real Estate Investment Trust (REIT) that focuses Singapore and is managed by Mapletree Industrial Trust Management Ltd, a wholly owned subsidiary of Mapletree. MIT’s has under it portfolio 86 properties valued at approximately S$3.7 billion which includes business park buildings, flatted factories, stack-up/ramp-up buildings, light industrial buildings and hi-tech buildings. This new acquisition will be the latest to come under the control of MIT

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