Mapletree Industrial Trust to divest up to S$600 million of assets over next two years

[SINGAPORE] The manager of Mapletree Industrial Trust (MIT) plans to divest between S$500 million and S$600 million worth of assets over the next two years, with a focus on its North American portfolio.

For a start, the trust intends to divest up to S$200 million of assets in FY2025, said Ler Lily, chief executive officer of MIT’s manager. She was speaking at the logistics trust’s Q2 financial results briefing on Thursday (Oct 30).

Ler said the manager’s divestment approach would depend on which option provides the “best value”. In response to a question on whether the manager intends to divest its North American assets as a group, she noted: “The moment you group (the assets) up, it becomes pretty sizeable. So it may not be that easy to sell.”