Singapore’s Mapletree Industrial Trust Management is buying a data centre and an office complex in the US for “between $200.6m (€124m) and $262.1m (€162m), subject to contract.

The trust said today it had entered into an agreement with an unnamed vendor in a deal targetted for completion in the first quarter of next year. The property, located in Virginia, is fully leased.

Mapletree has commissioned an independent property valuer, Cushman & Wakefield, to assess the assets, which, at August 31, 2020, were valued (by the vendor) at between $205m and $266m.

The trust, which already has an exposure to the US data centre market, said the proposed acquisition was part of its strategy to acquire data centres worldwide outside Singapore.

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