{"id":3873,"date":"2008-07-01T09:43:00","date_gmt":"2008-07-01T09:43:00","guid":{"rendered":"urn:uuid:d09c3367-254b-4487-9836-5cfc6d6c8fd8"},"modified":"2025-03-06T07:31:18","modified_gmt":"2025-03-06T07:31:18","slug":"mapletree-and-arcapita-form-jv-partnership-to-acquire-s1-71-billion-industrial-portfolio-from-jtc","status":"publish","type":"newsroom","link":"https:\/\/www.mapletree.com.sg\/jp\/newsroom\/mapletree-and-arcapita-form-jv-partnership-to-acquire-s1-71-billion-industrial-portfolio-from-jtc\/","title":{"rendered":"Mapletree And Arcapita Form JV Partnership To Acquire S$1.71 Billion Industrial Portfolio From JTC"},"content":{"rendered":"\n
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Sealing the partnership: Mr Hiew Yoon Khong (left), Chief Executive Officer of Mapletree Investments Pte Ltd and Mr Martin Tan, Executive Director, Co-Global Head of Real Estate, Arcapita Bank at the Toa Payoh North industrial estate, one of the portfolio of industrial properties acquired from JTC.<\/sub><\/figcaption><\/figure>\n<\/div>\n\n\n\n
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Singapore<\/strong> \u2013 Mapletree Investments Pte Ltd (\u201c Mapletree\u201d) and Arcapita Bank B.S.C.(c) (\u201cArcapita\u201d) today announced the completion of agreements to become joint venture partners, in Mapletree Industrial Trust (\u201cMIT\u201d), a private real estate fund, which was set up to hold the S$1.71 billion portfolio of high-rise, ready-built industrial properties acquired from JTC Corporation (\u201cJTC\u201d). Arcapita will hold a 56.5% stake in MIT, while Mapletree will hold a 25.1% stake. The balance will be held by Mapletree Industrial Fund (\u201cMIF\u201d), a pan-Asian private real estate industrial fund sponsored by Mapletree.<\/p>\n\n\n\n

The acquisition of JTC\u2019s industrial property portfolio, which was announced in April, has now been completed. The properties, which comprise 39 blocks of flatted factories, 12 amenity centres, six stack-up and one ramp-up buildings, three multi-tenanted business park buildings (the Synergy & the Strategy at the International Business Park and the Signature at the Changi Business Park) and one warehouse building, have been officially transferred to MIT on 1 July 2008. Mapletree\u2019s wholly-owned subsidiary, Mapletree Industrial Fund Management Pte Ltd, will manage the properties.<\/p>\n\n\n\n

Mr Hiew Yoon Khong, CEO of Mapletree said, \u201cWe are pleased to have Arcapita as our joint venture partner in MIT, which is evidence of the support for our view that this is a high quality portfolio of real estate. We will explore the possibility of listing this portfolio as a REIT in due course, possibly in combination with other Mapletree industrial assets.\u201d<\/p>\n\n\n\n

Mr Atif A. Abdulmalik, CEO of Arcapita, added \u201cWe are very pleased to have formed this joint venture with Mapletree, one of Asia\u2019s leading real estate companies. This is our first venture with Mapletree and we look forward to more partnerships in Singapore and across Asia. The acquisition of this JTC portfolio, given its scale and quality, is an excellent start for Arcapita\u2019s Singapore office as we seek to increase our investments and presence across Asia.\u201d<\/p>\n\n\n\n

The Singapore real estate market benefits from its established position as a hub in the rapidly growing region of South-East Asia. The properties in the portfolio are attractive and well-diversified in terms of tenancy, location and asset type, and are well placed to continue to perform strongly.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"featured_media":16275,"template":"","meta":{"_acf_changed":false,"_trash_the_other_posts":false,"ep_exclude_from_search":false,"editor_notices":[]},"tags":[663,114],"newsroom-category":[112,1135],"csr-category":[],"class_list":["post-3873","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","tag-663","tag-news"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nMapletree And Arcapita Form JV Partnership To Acquire S$1.71 Billion Industrial Portfolio From JTC - MIPL Japan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mapletree-stag.altis.cloud\/jp\/newsroom\/mapletree-and-arcapita-form-jv-partnership-to-acquire-s1-71-billion-industrial-portfolio-from-jtc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mapletree And Arcapita Form JV Partnership To Acquire S$1.71 Billion Industrial Portfolio From JTC - MIPL Japan\" \/>\n<meta property=\"og:description\" content=\"Singapore \u2013 Mapletree Investments Pte Ltd (\u201c Mapletree\u201d) and Arcapita Bank B.S.C.(c) (\u201cArcapita\u201d) today announced the completion of agreements to become joint venture partners, in Mapletree Industrial Trust (\u201cMIT\u201d), a private real estate fund, which was set up to hold the S$1.71 billion portfolio of high-rise, ready-built industrial properties acquired from JTC Corporation (\u201cJTC\u201d). 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