The manager of Mapletree Pan Asia Commercial Trust (MPACT) has announced the sale of two office buildings in Japan to unrelated third parties for a total of approximately JPY8.73 billion (S$78.7 million).
MPACT’s Mapletree Anson along Singapore’s Tanjong Pagar
The transaction, conducted through MPACT’s subsidiary Tsubaki Tokutei Mokuteki Kaisha, involves the sale of ABAS Shin-Yokohama (ASY) for JPY3.3 billion and TS Ikebukuro Building (TSI) for JPY5.4 billion. The combined sale price represents a 1.7% premium over the total original purchase price of JPY8.58 billion (around S$104.1 million).
The divestment will be fully settled in cash and is expected to be completed by the end of August in the FY2025/2026 financial year.
Following the completion, MPACT’s portfolio will consist of 15 high-quality commercial properties across five key gateway cities in Asia, with a total net lettable area of 10.4 million square feet and an independent valuation of S$15.9 billion.
MPACT units ended flat at S$1.28 on July 23.
