Mapletree Logistics Trust acquires Korean logistics centre for $25.5m

Mapletree Logistics Trust says it has acquired IIjuk Gyeonggi Centre at a logistics cluster in South Korea for KRW 22 billion ($25.5 million).

The property, located about 60km from Seoul, comprises two blocks of three-storey dry warehouses with a total gross floor area of about 23,400 sqm.

Upon completion of the acquisition, MLT’s total portfolio will increase to 97 properties with a total book value of $3.6 billion.