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Mapletree Logistics closes ¥13.5B sale of 2 Japanese warehouse properties

Mapletree Logistics Trust completed the sale of two four-story warehouse facilities in Japan for ¥13.50 billion.

The Zama Centre in Kanagawa and the Shiroishi Centre in Hokkaido were sold to Godo Kaisha Asset Toshi Jigyo 4 Go. The company previously said roughly ¥12.54 billion of net proceeds were expected from the sale, which will be channeled toward funding committed investments, reducing existing debt and for other general corporate purposes. About ¥234 million of sales gain will also be distributed to shareholders.

As of July 31, US$1 was equivalent to ¥110.50.