Hines Mitsubishi Estate And Mbk Acquire Senoko Loop Logistics Property
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“Hines, together with Mitsubishi Estate and MBK Real Estate, has acquired a logistics asset located at 15 Senoko Loop. The sale and leaseback deal was successfully completed in late June with financing provided by Sumitomo Mitsui Banking Corp Singapore branch.
The property, currently leased to anchor tenant British American Tobacco, spans a total gross floor area of 446,509 sq ft on a 263,328 sq ft site. It comprises climate-controlled warehouse space and an administration area.
This marks the second industrial deal for Hines in Singapore and its first joint venture with Japanese institutional partners in the country. With this acquisition, Hines has now secured a total of 16 industrial assets spanning five million sq ft in Australia, China, Japan, South Korea and Singapore.
Hines, a global real estate investment manager, announced in a press release dated July 2 that it has jointly acquired a logistics asset at 15 Senoko Loop with Mitsubishi Estate and MBK Real Estate. The sale and leaseback transaction was successfully completed in late June, with financing provided by Sumitomo Mitsui Banking Corp Singapore branch.
The four-storey facility, situated on a 263,328 sq ft site, offers a total gross floor area of 446,509 sq ft. It features a combination of climate-controlled warehouse space and an administration area. Currently, the property is leased to the seller, British American Tobacco, serving as the anchor tenant.
This deal marks Hines’s second industrial transaction in Singapore and its first partnership with Japanese institutional investors in the country. With this latest acquisition, Hines has now amassed a total of 16 industrial assets, covering a combined area of five million sq ft spread across Australia, China, Japan, South Korea, and Singapore.