Singapore-based Mapletree Industrial Trust (MIT) will divest from a data center property in Philadelphia, Pennsylvania, the United States for $14.5 million.

In a statement on Monday, Mapletree Industrial Trust said it signed a deal on May 22 to sell the infrastructure to a third-party purchaser. The sale price represents a 4.3 percent premium above the property’s independent valuation of $13.9 million as of March 31, 2026. The firm plan to utilize the net proceeds to pay down debts and/or fund working capital requirements.

The property is a two-storey data center spanning a net lettable area of approximately 124,190 square feet, sitting on freehold land of about 1.1 million square feet.

MIT’s decision to sell follows the expiry of the property’s lease at end-2024, after which leasing interest remained limited. Mapletree Industrial Trust Management Ltd., as the manager of Mapletree Industrial Trust, cited challenges in repositioning or redeveloping the asset, including lengthy lead times to secure higher power capacity and construction risks, as factors behind the divestment.

Ler Lily, CEO of Mapletree Industrial Trust Management, said the move is part of a broader strategy to rebalance MIT’s portfolio and redeploy capital into markets and assets with sustainable growth potential to deliver stronger returns to unitholders.

The divestment is slated for completion by the third quarter of 2026.

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