**Mapletree Sells 1.8M-SF Industrial Portfolio to Faropoint for $328M**
Mapletree Investments Pte Ltd has completed the sale of a 1.8-million-square-foot industrial portfolio in the United States to Faropoint for $328 million. This transaction marks Mapletree’s first major warehouse divestment in the U.S. and represents Faropoint’s largest acquisition since the company’s inception in 2012.
The portfolio consists of 30 shallow-bay warehouse buildings located across key logistics hubs including Florida, Georgia, New Jersey, Pennsylvania, and Texas. Mapletree was represented in the transaction by John E. Huguenard and Trent Agnew of JLL.
“Mapletree remains bullish on the long-term potential of the U.S. industrial market,” said Richard Prokup, CEO U.S. at Mapletree. “This sale unlocks capital for reinvestment in new opportunities that align with our conviction in this sector.”
The assets were part of Mapletree US & EU Logistics Private Trust (MUSEL), a closed-end private fund launched in 2019. MUSEL manages a diversified logistics portfolio across North America and Europe valued at $4.3 billion. Comprising 262 total properties, the sale to Faropoint marks the first phase of investor exit from the MUSEL fund.
