Mapletree Logistics Trust is acquiring a warehouse located in the Indian city of Mumbai for almost INR4bn (€36m), through the acquisition of an investment-holding company and a property-holding company from unrelated third parties.
Completed in August 2025, the asset comprises two blocks of single-storey logistics facilities with a net lettable area of 79,378sqm and is fully leased to two listed food and grocery e-commerce companies.
The proposed acquisition will be 100% funded by debt, and the trust said the target companies will be fully paid in cash based on the adjusted net asset value(s) and subject to post-completion adjustments.
Jean Kam, chief executive officer of Mapletree Logistic Trust Management, the manager, said: “India is fast becoming a preferred warehousing destination in Asia, fuelled by its rising middle class, growing domestic consumption and key role in the realignment of global supply networks.
“The accretive acquisition will not only add a modern, high-specs and green property to our portfolio, but also expand our network presence in India from Pune and Delhi to a new market in Mumbai. This positions us well to support our customers’ growing logistics space requirements as they expand regionally.”
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