“Future plans for these properties from our acquisition will form the seed portfolio for a potential U.S. logistics private fund – Mapletree US Logistics Private Trust,” the spokesperson said.
The Guilford properties are included in the second portfolio of logistics assets that Mapletree bought for a combined $3 billion in May and September.
Mapletree said in a Sept. 30 news release that the second portfolio contains 117 assets covering a combined 22.3 million square feet of net leasable area across Greater Chicago, the Carolinas, Memphis, Houston and Washington DC and Baltimore.
“The US logistics sector is amongst the best performing and most resilient of all the real estate markets in which Mapletree operates globally,” Michael Smith, the company’s regional chief executive of Europe and USA, said in the news release.
“By combining these recently acquired assets with 14 logistics facilities that we currently own, we have attained sufficient scale and investor interest to create a fourth US focused private fund with a fully seeded portfolio of 155 logistics assets.
“We now manage 355 logistics facilities … totaling 70 million square feet of net leasable area, propelling Mapletree into the top 10 managers of logistics real estate in the US.”
The tenant base includes companies in the third-party logistics, consumer goods, wholesale and e-commerce sectors.