NEW YORK, NY – Mapletree Investments (“Mapletree” or “the Group”) has announced the sale of a 1,379,424-square-foot (“sq ft”) mid-shallow bay industrial portfolio to Dalfen Industrial for US$207.5 million. This transaction marks the Group’s fifth United States (“US”) warehouse portfolio divestment, following nearly US$1.3 billion in total logistics asset sales completed since June 2025.

“We’re pleased to deliver another strong result for our investors through this strategic disposition,” said Richard Prokup, Chief Executive Officer, US, Mapletree. “As we redeploy capital, we are prioritising development opportunities that meaningfully advance the scale and competitiveness of our national industrial pipeline.”

John Paul Chua, Director, Investment, US, Mapletree, added: “We congratulate Dalfen on this well-executed closing, our first transaction with the firm. The successful outcome highlights the collaboration demonstrated by all parties throughout the process.”

The mid-shallow bay logistics portfolio includes 19 warehouse assets across key US distribution markets:
13 in Dallas–Fort Worth, 4 in Chicago and one each in Cincinnati, Ohio and Indianapolis, Indiana.

“This acquisition provides immediate scale in one of our highest conviction submarkets in Dallas–Fort Worth and the Midwest,” said Sean Dalfen, President and CEO, Dalfen Industrial. “The portfolio’s infill locations, diversified tenancy and embedded mark-to-market opportunity align seamlessly with our strategy of aggregating last-mile industrial product in supply-constrained nodes.” 

Jack Fraker, Dom Espinosa and Travis McEldowney of Newmark represented Mapletree in the transaction.

The divested assets were held under Mapletree US & EU Logistics Private Trust (“MUSEL”), a closed-end private fund launched in 2019 with a diversified pan-American and pan-European portfolio totalling US$4.3 billion in assets under management at the fund’s inception. The original portfolio comprised 262 strategically located assets, well-connected to transportation nodes and benefiting from robust demand across sectors including e-commerce, third-party logistics and consumer products. This divestment represents the successful fifth milestone of exit for investors of MUSEL.

Mapletree owns and manages more than 66 million sq ft of industrial assets across the US with a development pipeline of approximately 2.6 million sq ft. Since entering the US real estate market in 2014, the Group has built a diverse portfolio spanning logistics, data centre, office, student housing and multifamily properties. As of March 31, 2025, the US accounted for approximately 25% of the Group’s total assets under management, valued at ~US$60.1 billion (S$80.3 billion).