Towards Financial Freedom
MLT buys Korean warehouse
MLT buys Korean warehouse. Mapletree Logistics Trust (MLT) has acquired its eighth property in South Korea for SGD32m. The warehouse facility is being purchased from Oakline Co Ltd, a supply chain management company in South Korea that stores and distributes spirits and wine. The property will be leased back to Oakline with a built-in rental escalation from second year onwards. The acquisition will be funded by debt, increasing MLT's aggregate leverage from 34.1% to 34.6%. Upon completion, MLT's total portfolio will have 111 properties with a book value of SGD4.08b. (Business Times)
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