Mapletree Industrial Trust Sells US Data Center for US$14.5 Million

MT Newswires

05/25

Mapletree Industrial Trust (SGX:ME8U) signed an agreement to divest a freehold data center facility in Philadelphia, US for US$14.5 million, according to a Monday filing with the Singapore Exchange.

The sale price is a 4.3% premium above the property's independent valuation of US$13.9 million, with net proceeds to be used to pare down debts and to fund working capital needs.

The two-story property has a total net lettable area of 124,190 square feet.

The proposed divestment is expected to conclude during the third quarter of the year.

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