Mapletree Investments, the sponsor of all three Singapore Exchange (SGX)-listed Mapletree REITs, has acquired its first piece of land for logistics in Kyushu, Japan. The logistics asset was developed by Mapletree. The three REITs are Mapletree Logistics Trust (MLT), Mapletree Industrial Trust (MINT) and Mapletree Pan Asia Commercial Trust (MPACT).
Named Mapletree Chikushino Logistics Centre Phase 1, the Grade A logistics facility has a four-storey reinforced concrete column and steel beam structure (RCSS), double ramps and a total floor area of 110,744 sqm (1.19 million sq ft). It is sited on a land plot measuring 116,319 sqm, which allows for the development of 231,648 sqm gross floor area of warehouses.
The facility will be completed by the end of July, which will add to Mapletree’s total assets under management (AUM) in Japan, which stood at $3.9 billion as at March 31.
The group’s portfolio in Japan comprises logistics, office, retail and lodging properties.
“Mapletree has been acquiring, developing, and managing various quality assets across Japan since 2007. We have accumulated over $1.6 billion in income-yielding logistics properties across the country and witnessed the logistics sector growing into one of the best-performing and most resilient sectors that Mapletree operates in,” says Wong Mun Hoong, Mapletree’s regional CEO for Australia & North Asia.
“This steady growth affirms our decision to expand our portfolio into the Kyushu logistics market. Completing our new development in Kyushu will strengthen our foothold in seven out of the eight regions in Japan and provide more opportunities to bring value to the country’s logistics sector,” he adds.
Osamu Pedro Ebinuma, CEO of Mapletree Japan, notes that the site has several positives including is connectivity to major transportation infrastructure, including the Chikushino Interchange of the Kyushu Expressway, which is a minute-long drive away. The site is also designated as an area for large-scale distribution businesses utilising the Chikushino Interchange.
“We believe the strategic location of this facility will be positive in supporting the warehousing needs of such distribution companies. As of today, the development has attracted strong interests from third-party logistics (3PL) companies and others,” he adds.
