Mapletree Industrial Trust (SGX:ME8U) entered into sale and purchase agreements for the divestment of three industrial properties in Singapore for a total consideration of SG$535.3 million, according to a Friday filing with the Singapore Exchange.

The agreement for the disposal of The Strategy, The Synergy and Woodlands Central was made with unrelated third parties managed by affiliates of Brookfield Asset Management.

The properties are located on a leasehold land with a weight average lease to expiry of 43 years and have a total gross floor area of 1,772,976 square meters.

The divestment, expected to be completed during the third quarter of the year, is part of the manager's strategy to deliver sustainable returns to the trust's unitholders.