Mapletree Industrial Trust (MIT), a real estate investment trust (REIT) listed on the Main Board of Singapore Exchange, has completed the acquisition of the remaining 60.0% interest in the 14 data centres located in the United States of America, which are currently held by Mapletree Redwood Data Centre Trust.
The purchase consideration in connection with the Proposed Acquisition is US$215.3 million (approximately S$292.8 million), said the company in a statement.
Approximately s$294.5 million which is equivalent to approximately 71.8% of the gross proceeds of the private placement was used to fully fund the acquisition as well as professional and other fees and expenses incurred by MIT in connection with the acquisition.
All 14 data centres are 97.4% leased to 15 established tenants, including Fortune Global 500 corporations and NYSE-listed/Nasdaq-listed companies. The MRDCT Portfolio has a weighted average lease to expiry of about 4.6 years, with about 20% of the leases expiring within the next three years.