Mapletree Boosts Capital Management Portfolio with New Australian Private Commercial Trust of A$654 Million in Equity

  • Targets 12% Trust IRR with attractive and growing net cash yields
  • Fund comprises a portfolio of 10 Grade A office assets with high occupancy and diversified tenant base in Sydney, Melbourne, Adelaide, Brisbane and Perth
  • Fund well received with participation from institutional, corporate and HNW investors

SINGAPORE – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) is pleased to announce the successful closing of a new private trust, MASCOT Private Trust (“MASCOT” or “the Trust”) at approximately A$654 million (~S$608 million1) in total fund equity. MASCOT is fully invested at closing and owns 10 Grade A office assets that are strategically located in key Australian gateway cities namely – Sydney, Melbourne, Adelaide, Brisbane and Perth – with a total asset value of about A$1.4 billion (~S$1.3 billion1). 

The Trust will be managed by Mapletree Real Estate Advisors Pte. Ltd., a wholly-owned subsidiary of Mapletree. Mapletree will retain a 27 per cent2 stake in MASCOT to align with investor interest; akin to its approach with other sponsored private funds such as Mapletree Global Student Accommodation Private Trust (MGSA), Mapletree US & EU Logistics Private Trust (MUSEL) etc., and its four Singapore-listed real estate investment trusts (REITs).

Said Mr Hiew Yoon Khong, Mapletree’s Group Chief Executive Officer, “The successful closing of MASCOT is a testament to the strong confidence that investors have in Mapletree’s fund management and real estate capabilities. The syndication of MASCOT is in line with the Group’s business model, which includes being an active capital manager in both the public and private markets that constantly seeks opportunities to structure attractive investment products for a wide spectrum of investors. Going forward, we will continue to originate investment products and syndicate new funds to grow our capital management business and fulfill the demand of our investors.”

MASCOT,  which has a term of five years with provision for two, one-year extensions, attracted a range of institutional investors including pension funds, insurance companies, regional banks and corporates as well as high net worth and family office investors.

With a total net lettable area of approximately 160,000 square metres, the portfolio’s occupancy stands at 94%. The tenant pool comprises reputable occupiers from well-diversified industries such as the technology, media and telecom, government as well as mining, oil and gas.

As one of the strongest growing developed economies, Australia has strong economic growth, a buoyant labour market and a highly transparent regulatory system. Mr Hiew added, “The strong property and economic fundamentals are what attracted Mapletree’s entry into Australia in 2014. With limited supply of quality Grade A office assets in the pipeline, rents are expected to grow over the medium term. The Group is optimistic regarding the performance of its investments in Australia and will continue to grow its footprint there, including expanding our portfolio of logistics assets.”

MASCOT’s total return target of 12% represents both a yield plus growth opportunity from a strong, fully invested and income generating portfolio. The Trust will make distributions on a semi-annual basis in AUD. The closing of MASCOT follows a series of other European and United States funds in the logistics and student accommodation sectors Mapletree has syndicated over the last two years. 

One of the office assets in the portfolio, 111 Pacific Highway is a Grade A office located in North Sydney.

11 Waymouth Street, located in Adelaide’s Central Business District.

1 Based on exchange rate of 1 AUD = S$0.93
2 Including directors and senior management’s stakes in MASCOT

Media Contacts

Mapletree

Heng Sue Yuan

Director, Corporate Communications

Tel: +65 6807 4031

Email: heng.sueyuan@mapletree.com.sg

Pyrena Chu

Senior Executive, Corporate Communications

Tel: +65 6659 3714

Email: pyrena.chu@mapletree.com.sg

HO CHI MINH CITY – More than 300 wildlife photography enthusiasts and birdwatchers gathered at SC VivoCity in Ho Chi Minh City at the opening and prize presentation ceremony of the ‘Wild Birds and Mammals of Vietnam’ Photography Exhibition. Now in its second year running, this year’s exhibition held from 12 to 17 October focuses on the theme of endangered birds and mammal species in Vietnam, and is jointly organised by WildTour, the Vietnam Wildlife Photography Club and BirdLife International, supported by the Ho Chi Minh City Photography Association (HOPA), and sponsored by Mapletree Investments, Canon Vietnam and Lexar. ‘Wild Birds and Mammals of Vietnam’ is a culmination of a month-long, nationwide photography competition with a focus on Vietnam’s endangered species from July 2024 to early September 2024. 

This year’s exhibition profiles wild birds and mammals in Vietnam. Vietnam supports some of the highest concentration of endangered species in Southeast Asia. Of note is Vietnam’s diversity of primates, among the most imperilled primate faunas in the world, and home to the charismatic Tonkin Snub-nosed Monkey and the Delacour’s Langur. Similarly,  Vietnam’s bird fauna is rich but threatened by habitat loss and trapping for the pet trade. ‘More than 400 images were received by our team, many of them exceptionally high-quality images of some of Asia’s rarest bird and mammal species’, observed Mr Nguyen Truong Sinh, lead organiser of the competition and chairperson of the Vietnam Wildlife Photography Club. He also chaired the judging panel with seven other experts. Dr Yong Ding Li who represents BirdLife International on the panel agreed and noted that the images received were more diverse than the inaugural competition in 2023 and reflects a rapidly growing interest in nature photography in Vietnam.

The Exhibition coincided with the World Migratory Bird Day weekend on 12 October 2024, held twice a year to celebrate the spectacular movement of birds across the globe every Spring and Autumn. Over this time, millions of migratory birds can be expected to be on their journeys across the Asian continent, moving from wetlands to wetlands along the East Asian-Australasian Flyway, including here in Vietnam. Several migratory species were featured among the exhibited images, including among them the Spoon-billed Sandpiper, Great Knot and Wallcreeper, the last an extremely rare visitor to northern Vietnam.

Mr Edmund Cheng, Chairman, Mapletree, added: “We are pleased to witness our support for environmental awareness in Vietnam gain momentum, starting from our first migratory bird event in 2023 at the wetlands of Can Gio. This commitment is influenced by Mapletree’s environment and education pillars, two of the four pillars under our Corporate Social Responsibility framework to enrich communities in markets where we operate.”

“It was great to see the high quality of submissions received from not just photographers in south Vietnam, but also from further away in Ha Noi and Da Nang. I was particularly impressed with the fantastic selection of  Vietnam’s endemic and wild birds documented in these photographs. The selection of mammals was equally impressive, with some of the best shots of the rare Cat Ba Langur. Eventually our committee of judges agreed that the Tonkin Snub-nosed Monkey image by Mr Chung Van Thanh was the best of the lot”, observed Mr Nguyen Hoai Bao, director of WildTour and chairperson of the judging panel with five other experts.  

This year’s exhibition is the fourth World Migratory Bird Day event supported by Mapletree since 2023, starting from the ‘Celebrating Migratory Birds in Vietnam’ activity organised in Can Gio wetlands by WildTour and BirdLife. In 2024, Mapletree supported the first ever Vietnam Bird Race, held at Tràm Chim National Park. The organisers and supporters of this event plan to build on the success of this year’s event and introduce new elements to attract more bird and nature enthusiasts from across Vietnam. The Vietnam Bird Race will take place annually and the next iteration is slated to be held in May 2025. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

Figure 1. Chung Van Thanh’s portrait of a Tonkin Snub-nosed Monkey, among Southeast Asia’s rarest mammals, won the first prize. 

MEDIA CONTACTS

Xabryna Kek

Assistant Manager, Corporate Communications

Mapletree Investments Pte Ltd

Tel: (65) 6377 4608

Email:xabryna.kek@mapletree.com.sg

Linus Lui

Assistant Manager, Corporate Social Responsibility

Mapletree Investments Pte Ltd

Tel: (65) 6377 6376

Email:linus.lui@mapletree.com.sg

Linus Lui

Assistant Manager, Corporate Social Responsibility

Mapletree Investments Pte Ltd

Tel: (65) 6377 6376

Email:linus.lui@mapletree.com.sg

Headquartered in Singapore, Mapletree is a global real estate development, investment, capital and property management company committed to sustainability. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistently attractive returns across real estate asset classes.

The Group manages three Singapore-listed real estate investment trusts (“REITs”) and nine private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom (“UK”) and the United States (“US”). As at 31 March 2024, Mapletree owns and manages S$77.5 billion of office, retail, logistics, industrial, data centre, residential and student accommodation properties.

The Group’s assets are located across 13 markets globally, namely Singapore, Australia, Canada, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.

For more information, please visit mapletree-dev.altis.cloud.

BirdLife International is a partnership of over 122 conservation organisations worldwide covering all continents, landscapes, and seascapes. As a leader in bird conservation, our unique local to global approach enables us to deliver high impact and long-term conservation for the benefit of nature and people. Our mission is to conserve birds, their habitats and global biodiversity, while working with people toward sustainability in the use of natural resources.
Find out more at www.BirdLife.org