The proposed divestment is said to be in line with the manager’s efforts to rejuvenate its portfolio through the selective divestments of its non-core assets.
Moriya Centre is located in Moriya, Ibaraki and comprises three blocks of four-storey industrial buildings and ancillary offices. The blocks have an average age of 17 years and a total net lettable area (NLA) of 41,713 sqm.
The sale price is 12.2% above the property’s latest valuation of 8.94 billion yen as at March 31.
The divestment is expected to be completed by the 3QFY2023/2024.
See also: Keppel Infrastructure Trust dives deeper into subsea value chain with acquisition
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Units in MLT closed at $1.68 on Aug 31.
