Mapletree Investments has closed its third private fund for the year, Mapletree US Logistics Private Trust (Muslog), at a total fund equity of US$1.4 billion (S$1.9 billion).
This brings its total private funds raised this year to US$2.5 billion – the highest ever raised in a year, said Mapletree on Wednesday (Dec 1).
The trust also places the group among the top 10 managers of logistics real estate in the United States, where it now manages 355 logistics assets with assets under management (AUM) of US$6.9 billion totalling 6.5 million sq m of net lettable area.
With that, Mapletree said Muslog, which has a weighted average lease expiration of 4.1 years, has set a target of a 12 per cent internal rate of return (IRR), and is “fully invested” at closing with a total asset value of some US$3.3 billion.
Read more/Source: The Straits Time
