Singapore’s Mapletree Industrial Trust is acquiring a 10-megawatt data centre in Osaka for 52 billion yen ($370 million). In a separate development, US-based asset manager Brookfield has launched its built-to-rent platform in Australia with a A$400 million ($262 million) project in Brisbane.
Mapletree Industrial Trust buys data centre in Japan
Singapore’s Mapletree Industrial Trust is acquiring a 10-megawatt data centre in Osaka for 52 billion yen ($370 million). This would mark its first investment in the world’s third-largest economy.
The SGEX-listed real estate trust said that it will acquire a 98.47% stake in the digital infrastructure. The transaction is being routed through Tokutei Mokuteki Kaisha, an unrelated third-party vendor.
Following the transaction, Japan will account for around 5.5% of Mapletree Industrial’s assets under management with North America and Singapore representing the remaining 47.6% and 46.9%, respectively. Its assets will reach S$9.3 billion upon the completion of the acquisition, which is expected to take place by the third quarter of 2023.
Brookfield launches rental residential platform in Australia
US-based asset manager Brookfield has launched its built-to-rent platform in Australia with a A$400 million ($262 million) project in Brisbane.
Located in the country’s third most populous city, the project comprises two buildings with 560 rooms in total.
“Housing and affordability are strong investment thematics for Brookfield and we want to invest in them around the world including [in countries like] Australia where there are compelling tailwinds for these strategies,” said Sophie Fallman, managing partner and head of Australia real estate at Brookfield.
“Vacancy rates in Brisbane are among the lowest in the country at under 1%, so demand for new rental properties in the city is significant,” Lee Butterworth, managing director for residential properties at Brookfield.