Mapletree Investments JV to acquire 14 US data centres at $1.02 bil
By Angela Teo
/ EdgeProp |
Mapletree Investments and Mapletree Industrial Trust have formed a joint venture (JV) to buy 14 data centres in the US at about US$750 million ($1.02 billion).
According to Tham Kuo Wei, CEO of the manager of Mapletree Industrial Trust, the proposed acquisition will increase the contribution of data centres to the trust’s portfolio, from 6.7% to 16%.
The data centres sit on freehold land and have a total net lettable area of approximately 2.3 million sq ft. According to Mapletree, the portfolio of data centres have an occupancy of 97.4% as at Sept 30 and is leased to 15 tenants across industries such as telecommunications and financial services.
Source: Mapletree
Besides a long weighted average lease to expiry (by gross rental income) of approximately 6.7 years, only 1.3% of the leases are expiring within the next three years, adds Mapletree.
The proposed acquisition is expected to be completed in 4Q2017.
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Search Articles