Real estate investment trust company Mapletree Industrial Trust (MIT) has completed the joint purchase of 14 data centres in the US, the firm today announced. The deal – which was done through an unlisted single purpose trust, Mapletree Redwood Data Centre Trust – was valued at a total of $753.8 million.
In all, MIT’s investment in the joint venture (JV) with Mapletree Investments comes up to about $304.7 million. The company said it has used about S$153.1 million, or 98 per cent of its S$155.7-million private placement, to partially fund its net requirement of $$169 million with regard to the JV and acquisition. The remaining S$2.6 million, or 1.7 per cent of proceeds, has been used to pay placement-related expenses.