Mappletree Logistics Trust (MLT) has proposed to acquire a Grade A warehouse in Farukhnagar in the Delhi National Region (NCR) for USD 14.5 million for 900 million rupees, according to a report by a leading media house. The acquisition by MLT is expected to be completed in the fourth quarter of the financial year 2024 and will be 100 per cent funded by debt, informed its manager on 13 December. This represents a 2.4 per cent discount to the asset’s independent valuation of Rs 922 million as of 31 October.
The warehouse is situated 7km away from the KMP Highway and 21 Km away from National Highway 48. The warehouse will be connected to the major cities of Mumbai, Ahmedabad, Gurugram and Delhi.
As per the report, the step will help the company to have an increased and stable income stream. Warehouse is a single-storey building that sited on 51.44 sq m of land with a net lettable area of 28,745 sq m. Other features include a floor-to-ceiling height of 12m, 50 kilonewtons per sq m floor loading capacity, and a fire sprinkler system.
Acquiring the property will help MTL to expand their India assets under management by geography from 0.6 per cent as of Sept 30 to 0.7 per cent, as mentioned by the report.
