Singapore’s Mapletree Logistics Trust is buying a recently-completed logistics centre in Kobe, Japan for JPY22.2bn (€185m) from Sazanka Tokutei Mokuteki Kaisha.

The investor will acquire a 98.47% stake in the fully-let four-storey facility located within an established logistics cluster in the port city of Kobe, south of Tokyo.

The Mapletree Logistics Trust has been in expansion mode, having this month finalised the acquisition of 10 powered shell data centres located in North America from Digital Realty Trust for US$557.3m (€500m).

The North American transaction comes after the trust bought a portfolio of seven assets located in Malaysia and Vietnam, and a half-interest in four logistics in China, for a total investment of S$383.9m (€256.8m).

In September last year, Mapletree entered a forward-funding arrangement for a logistics facility in Melbourne.