Mapletree Investments sells mid-shallow bay logistics portfolio to Dalfen Industrial for US$207.5 million

[SINGAPORE] Mapletree Investments sold a 1.3 million square foot mid-shallow bay logistics portfolio to Dalfen Industrial for US$207.5 million.

The transaction marks the group’s fifth warehouse portfolio divestment in the US. It comes after the completion of nearly US$1.3 billion in total logistics asset sales since June 2025.

The divested assets were held under Mapletree US & EU Logistics Private Trust, a closed-end private fund launched in 2019. At its inception, the fund had a diversified pan-American and pan-European portfolio totalling US$4.3 billion in assets under management.

Mapletree said on Wednesday (Apr 1) that the original portfolio comprised 262 strategically located assets, which are well connected to transportation nodes and benefit from “robust demand” across sectors including e-commerce, third-party logistics and consumer products.

The divestment represents the fifth successful exit for Mapletree US & EU Logistics Private Trust’s investors.

Mapletree US chief executive Richard Prokup said: “As we redeploy capital, we are prioritising development opportunities that meaningfully advance the scale and competitiveness of our national industrial pipeline.”

The group’s mid-shallow bay logistics portfolio includes 19 warehouse assets across key US distribution markets: 13 in Dallas-Fort Worth, Texas; four in Chicago, Illinois; and one each in Cincinnati, Ohio and Indianapolis, Indiana.

Overall, Mapletree owns and manages more than 66 million sq ft of industrial assets across the US, with a development pipeline of an estimated 2.6 million sq ft.

Since entering the US real estate market in 2014, the group has built a diverse portfolio spanning logistics, data centre, office, student housing and multifamily properties. As at Mar 31, 2025, the US accounted for an estimated 25 per cent of the group’s total assets under management, valued at over US$60.1 billion.

This is Dalfen Industrial’s first transaction with Mapletree. Dalfen Industrial is a real estate investment manager specialising in the acquisition, development and operation of last mile industrial properties.

Sean Dalfen, president and CEO of Dalfen Industrial, said the acquisition provides “immediate scale” in one of the company’s “highest conviction submarkets” in Dallas-Fort Worth and the Midwest.

“The portfolio’s infill locations, diversified tenancy and embedded mark-to-market opportunity align seamlessly with our strategy of aggregating last-mile industrial product in supply-constrained nodes.”