Mapletree Industrial Trust Sells US Data Center for US$14.5 Million
MT Newswires11:35
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.