Mapletree Logistics Trust (SGX:M44U) entered into a purchase agreement to divest 8 Tuas View Square for SG$11.2 million, nearly 40% above its latest valuation, according to a filing with the Singapore Exchange on Thursday.
The property is a three-story cargo lift warehouse and factory building with a net lettable area of around 4,405 square meters.
The divestment is part of the trust's strategy to rejuvenate its portfolio through selective divestments of non-core assets.
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