Mapletree Investments has acquired a 16.5 million ft² logistics portfolio for c.€960m (US$1.1bn) from Prologis. Strategically located in established distribution centres within major logistics markets such as Chicago, Dallas and Seattle in the US, as well as France, Germany and Poland, these properties enjoy excellent access to key transportation nodes including major highways, ports and airports.
Michael Smith, Regional Chief Executive Officer, Europe and USA, said: “This acquisition is in line with Mapletree’s strategy to increase our global footprint as a logistics real estate provider and to venture beyond Asia - a strategy we have been executing since 2014. 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. As an active capital manager, we have also embarked on a syndication of our European and US logistics assets to institutional and high net worth investors.”
The acquisition of this portfolio further marks the group’s expansion into the US and European markets following earlier acquisitions of student accommodation, serviced apartments, commercial properties as well as data centres across these two regions.