Mapletree Logistics Trust (MLT), the Asia-focused logistics REIT in Singapore, has acquired Higashi Hiroshima Centre, a newly built freehold logistics facility in Hiroshima, Japan, for JPY6,370 million (S$82.1 million) from Mizuho Marubeni Leasing Corporation.
”The acquisition is expected to generate a stabilised net property income yield of 4.5% based on the property purchase price of JPY6,370 million,” said the company in a statement.
Newly completed in November 2020, the logistics facility in Hiroshima is a modern 2-storey single block dry logistics facility with a total gross floor area of 26,948 square metres (sq m) sited on freehold land of approximately 85,660 sqm. Built to modern specifications that include clear height of 5.5 metres and floor loading of 1.5 tonnes per square metre, the property is designed to be highly functional and versatile to support flexible leasing solutions.
Centrally located in the Hiroshima prefecture of the Chugoku region in Japan, the property is connected to Greater Osaka in the east and Kyushu Island in the west via Chugoku Highway and Sanyo Highway, making it an ideal location for regional distribution.