Mapletree buys logistics portfolio for $1.54b

They have a total area of 16.5 million sq ft.

Mapletree Investments acquired a logistics portfolio for $1.54b (US$1.1b) from US firm Prologis, an announcement revealed.

Located in the distribution centres of Chicago, Dallas and Seattle in the US, as well as France, Germany and Poland, the properties which have a combined area of 16.5 million sq ft have access to key transportation nodes including major highways, ports and airports.

“With properties strategically situated in key distribution hubs, Mapletree is well-positioned to capitalise on the growing demand for modern logistics facilities and the thriving e-commerce sector globally.”

The acquisition follows the firm’s earlier buys of student accommodation, serviced apartments properties as well as data centres across Europe and US.