‘Surprised’ by Mapletree Commercial Trust’s acquisition

SINGAPORE (July 5): Religare’s head of Asean real-estate research, Tata Goeyardi, has expressed surprise at Mapletree Commercial Trust’s (MCT’s) acquisition of Mapletree Business City’s (Phase 1) office and business park components for a purchase consideration of $1.78 billion.

(See: Mapletree Commercial Trust acquiring Mapletree Business City (Phase 1) for $1.78 bil from sponsor)

MCT announced in a stock exchange filing earlier on Tuesday that the total acquisition cost is expected to amount to $1.86 billion, which the REIT plans to fund with a combination of debt and equity.

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