Mapletree Industrial Fund buys building in Japan

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MAPLETREE Industrial Fund has acquired its first industrial property in Japan.

It has not disclosed the price it paid for Sun East Shinonome Building - a freehold light industrial building with a gross floor area of 21,900 square metres - in Tokyo's Koto Ward.

The building is fully let to an IT-related service provider for use as a data centre and for R&D activity.

Phua Kok Kim, chief executive of Mapletree Industrial, said the purchase will diversify the fund's country portfolio.

Mapletree Industrial Fund is a private fund that invests in industrial real estate across Asia. It is managed by Mapletree Industrial Fund Management, a wholly owned subsidiary of Singapore- based Mapletree Investments.

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