Mapletree Industrial Trust buys Osaka data centre for 52 billion yen, to raise S$200 million via new units

The transaction structure, which was done through a wholly-owned unit of MIT and an unrelated third-party vendor, Suma Tokutei Mokuteki Kaisha, will result in MIT acquiring an effective interest of 98.47 per cent in the property.

The acquisition is also expected to be distribution per unit and net asset value per unit accretive to unitholders, at a rate of 2.1 per cent and 0.5 per cent respectively.

The trust intends to finance the total acquisition outlay of about 51.8 billion yen through a combination of debt and equity. About S$195.7 million will be funded through a private placement, it announced in a separate statement.

Tham Kuo Wei, chief executive officer of the manager, said that the proposed acquisition offered an opportunity for the trust to diversify its data presence into Japan – which it believes is one of the most developed data centre markets in Asia-Pacific.

“It will enlarge our presence in the resilient data centre sector, which continues to offer attractive growth prospects,” he said.