Key Facts
Adding value to real estate
Mapletree US Income Commercial Trust (MUSIC)


  • MUSIC aims to generate stable and recurring income to deliver an attractive total return of 12% Trust IRR
  • The Trust comprises a portfolio of five freehold Grade A office assets with high occupancy and diversified tenant base in Oakland, Dallas, Raleigh and Minneapolis
  • Possesses similar distribution principles as a Singapore-listed real estate investment trust (S-REIT)

Mapletree US Income Commercial Trust (MUSIC) is an office-focused private fund fully invested at closing, aiming to generate stable and recurring income to deliver an attractive total return of 12% Trust IRR. The portfolio features five high quality freehold Grade A office assets with high occupancy and diversified tenant base that are strategically located in key growth cities in the United States, namely, Oakland, Dallas, Raleigh and Minneapolis.

MUSIC is fully invested with an aggregate committed capital of US$ 0.6 billion.    

Mapletree Investments Pte Ltd (Mapletree) is the sponsor of MUSIC and MUSIC is managed by Mapletree Real Estate Advisors Pte. Ltd. (MREAL), a wholly-owned subsidiary of Mapletree.

Fund Overview
Fund Type Private Trust
Legal structure Unregistered Business Trust
Vintage 2021
Asset Class Office
Investment Universe United States
Initial Term
5 years
Fund Size1 (US$ bn) 0.6
AUM1 (US$ bn)
1.3
1 as of fund closing date 23 September 2021

For UK investors invited to participate in MUSIC through the MUSIC DSE Trust, please click here for the Key Information Document.