MapletreeLog: Acquired Liang Huat Building from Ho Lee Grp for $55m resulting in initial rental yield of 7.8%. Property consists of 6 blks of industrial warehouses and 2 ancillary blgs at Jurong area...
Agreement comes with rental income guarantee for 1) existing leases to match mkt rates in vicinity and 2) escalation of 2% for 5 yrs. Funding will come from recent equity raising on 21 Sept. DPU for 3Q was 1.54c and current yield is 7.74%.
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