Media Resouces
Mapletree Boosts Capital Management Portfolio with New Australian Private Commercial Trust of A$654 Million in Equity
December 01, 2019
  • Targets 12% Trust IRR with attractive and growing net cash yields
  • Fund comprises a portfolio of 10 Grade A office assets with high occupancy and diversified tenant base in Sydney, Melbourne, Adelaide, Brisbane and Perth
  • Fund well received with participation from institutional, corporate and HNW investors


  • SINGAPORE – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) is pleased to announce the successful closing of a new private trust, MASCOT Private Trust (“MASCOT” or “the Trust”) at approximately A$654 million (~S$608 million1) in total fund equity. MASCOT is fully invested at closing and owns 10 Grade A office assets that are strategically located in key Australian gateway cities namely - Sydney, Melbourne, Adelaide, Brisbane and Perth - with a total asset value of about A$1.4 billion (~S$1.3 billion1). 

    The Trust will be managed by Mapletree Real Estate Advisors Pte. Ltd., a wholly-owned subsidiary of Mapletree. Mapletree will retain a 27 per cent2 stake in MASCOT to align with investor interest; akin to its approach with other sponsored private funds such as Mapletree Global Student Accommodation Private Trust (MGSA), Mapletree US & EU Logistics Private Trust (MUSEL) etc., and its four Singapore-listed real estate investment trusts (REITs).

    Said Mr Hiew Yoon Khong, Mapletree’s Group Chief Executive Officer, “The successful closing of MASCOT is a testament to the strong confidence that investors have in Mapletree’s fund management and real estate capabilities. The syndication of MASCOT is in line with the Group’s business model, which includes being an active capital manager in both the public and private markets that constantly seeks opportunities to structure attractive investment products for a wide spectrum of investors. Going forward, we will continue to originate investment products and syndicate new funds to grow our capital management business and fulfill the demand of our investors.”

    MASCOT,  which has a term of five years with provision for two, one-year extensions, attracted a range of institutional investors including pension funds, insurance companies, regional banks and corporates as well as high net worth and family office investors.

    With a total net lettable area of approximately 160,000 square metres, the portfolio’s occupancy stands at 94%. The tenant pool comprises reputable occupiers from well-diversified industries such as the technology, media and telecom, government as well as mining, oil and gas.

    As one of the strongest growing developed economies, Australia has strong economic growth, a buoyant labour market and a highly transparent regulatory system. Mr Hiew added, “The strong property and economic fundamentals are what attracted Mapletree’s entry into Australia in 2014. With limited supply of quality Grade A office assets in the pipeline, rents are expected to grow over the medium term. The Group is optimistic regarding the performance of its investments in Australia and will continue to grow its footprint there, including expanding our portfolio of logistics assets.”

    MASCOT’s total return target of 12% represents both a yield plus growth opportunity from a strong, fully invested and income generating portfolio. The Trust will make distributions on a semi-annual basis in AUD. The closing of MASCOT follows a series of other European and United States funds in the logistics and student accommodation sectors Mapletree has syndicated over the last two years. 

     

     

    One of the office assets in the portfolio, 111 Pacific Highway is a Grade A office located in North Sydney.

     

    11 Waymouth Street, located in Adelaide’s Central Business District.

    1 Based on exchange rate of 1 AUD = S$0.93
    2 Including directors and senior management’s stakes in MASCOT

    MEDIA CONTACTS

    Heng Sue Yuan    
    Pyrena Chu
    Director, Corporate Communications   Senior Executive, Corporate Communications
    Tel: +65 6807 4031   Tel: +65 6659 3714
    Email: heng.sueyuan@mapletree.com.sg   Email: pyrena.chu@mapletree.com.sg
       

     

    ABOUT MAPLETREE

    Mapletree is a leading real estate development, investment, capital and property management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes.

    Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom (UK) and the United States (US).

    As at 31 March 2019, Mapletree owns and manages S$55.7 billion of office, retail, logistics, industrial, residential and lodging properties.

    The Group’s assets are located across 12 markets globally, namely Singapore, Australia, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.

    For more information, please visit www.mapletree.com.sg.