{"id":3897,"date":"2007-06-29T10:29:00","date_gmt":"2007-06-29T10:29:00","guid":{"rendered":"urn:uuid:95139a9d-2668-4812-bde0-31ac47ea097e"},"modified":"2025-02-12T10:11:28","modified_gmt":"2025-02-12T10:11:28","slug":"mapletree-industrial-fund-management-to-acquire-sm-summits-property-for-s22-5-million","status":"publish","type":"newsroom","link":"https:\/\/www.mapletree.com.sg\/jp\/newsroom\/mapletree-industrial-fund-management-to-acquire-sm-summits-property-for-s22-5-million\/","title":{"rendered":"Mapletree Industrial Fund Management To Acquire SM Summit’s Property For S$22.5 Million"},"content":{"rendered":"\n
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Singapore<\/strong> \u2013 Mapletree Investments Pte Ltd today announced that its wholly-owned subsidiary, Mapletree Industrial Fund Management Pte Ltd (\u201cMIFM\u201d), has signed a Put and Call Option Agreement with SGX-listed media storage manufacturer SM Summit Holdings Limited (SM Summit), to acquire its property, Summit Building for S$22.5 million on a sale and leaseback arrangement.<\/p>\n\n\n\n

Summit Building is a five-storey industrial building, located at 45 Ubi Road 1. SM Summit will take a long lease on the property.<\/p>\n\n\n\n

The property is centrally located in Kampong Ubi Industrial Estate, which is close to the Pan Island Expressway. It is near an upcoming mass rapid transit train station of the Circle Line and about 15 minutes drive away from the Central Business District.<\/p>\n\n\n\n

Mr Phua Kok Kim, CEO of MIFM, said: \u201cWe are pleased that SM Summit, a major manufacturer of media storage in Singapore, has agreed to do a sale and leaseback with us. This is a strategic acquisition for the Mapletree Industrial Fund. It will form part of our Asian portfolio of quality industrial real estate assets.\u201d<\/p>\n\n\n\n

The Mapletree Industrial Fund (MIF) is a private real estate fund which invests in industrial real estate across Asia for yield and capital appreciation. MIF is focused on investing primarily in manufacturing facilities, business parks, industrial parks, research and development facilities, IT and software parks, and industrial offices in various Asian countries.<\/p>\n\n\n\n

The key objective of MIF is to tap the shift in production and R&D processes to Asia by creating a diversified portfolio of good quality industrial real estate assets with a stable return profile.<\/p>\n\n\n\n

The MIF completed its first closing in Nov 2006 at US$310 million with Bahrain-based Ahli United Bank\u2019s AUB Pan Asian Industrial Fund as a cornerstone investor.<\/p>\n<\/div>\n<\/div>\n","protected":false},"featured_media":189,"template":"","meta":{"_acf_changed":false,"_trash_the_other_posts":false,"ep_exclude_from_search":false,"editor_notices":[]},"tags":[665,114],"newsroom-category":[112,1135],"csr-category":[],"class_list":["post-3897","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","tag-665","tag-news"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nMapletree Industrial Fund Management To Acquire SM Summit's Property For S$22.5 Million - 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-industrial-fund-management-to-acquire-sm-summits-property-for-s22-5-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mapletree Industrial Fund Management To Acquire SM Summit's Property For S$22.5 Million - MIPL Japan\" \/>\n<meta property=\"og:description\" content=\"Singapore \u2013 Mapletree Investments Pte Ltd today announced that its wholly-owned subsidiary, Mapletree Industrial Fund Management Pte Ltd (\u201cMIFM\u201d), has signed a Put and Call Option Agreement with SGX-listed media storage manufacturer SM Summit Holdings Limited (SM Summit), to acquire its property, Summit Building for S$22.5 million on a sale and leaseback arrangement. 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