Mapletree Logistics Likely to Face Robust Demand for Assets
Dow Jones
Aug 04
0734 GMT - Tenant demand for Mapletree Logistics Trust's assets is likely to be robust, supported by a focus on supply-chain optimization and higher prevalence of ecommerce, says Fitch Ratings in a note. The real-estate investment trust's portfolio occupancy remained high at 96.4% as of end-June, Fitch says. Lower occupancy of 93.8% in China was a slight drag but still above the 80% industry average for the market's logistics assets, it adds. This was likely supported by long-term relationships underpinning high lease renewal rates and the trust's strategy to preserve occupancy by lowering rent during challenging periods, says Fitch. The trust also benefits from a well-diversified tenant base, with its 10 largest tenants accounting for less than 20% of total revenue, Fitch adds.
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