Mapletree National Industrial Portfolio

Various locations

Portfolio description

Jones Lang LaSalle Americas, Inc. ("JLL") has been retained as the exclusive sales representative for the Infill Growth Industrial Portfolio (the "Portfolio"), a collection of 30 shallow-bay logistics and distribution facilities comprising 1.8 million square feet across multiple high-growth industrial markets in the Northeast, Southeast, Florida and Texas.

Featuring 3.3 years of WALT, the 91.5% leased infill Portfolio presents investors the opportunity to establish immediate scale with existing cash flow in the sought-after geographies while providing a near-term value creation strategy via the mark-to-market of in-place rents approximately 28% below market.

Furthermore, the shallow-bay Portfolio benefits from an advantageous design profile including efficient rear-load configurations, 23' average clear heights and appropriate 27% average office finish. With an average building size of just 60,837 square feet and a total of 122 suites, the Portfolio exemplifies ideal multi-tenant functionality in a high-performing subset of logistics and distribution product that has consistently maintained lease rate growth and remains largely insulated from supply-side pressure.

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Attributes

Number of buildings

Building area gross

1,825,109 sf

Occupancy

91.5%

WALT

3.3 years

Mapletree National Industrial Portfolio (30 Properties)

Media

Investment Highlights

HIGHLY ADVANTAGEOUS GEOGRAPHIC DIVERSIFICATION

The Portfolio features key geographic diversity including primary logistics and distribution markets:

Gateway I-95 Northeastern markets such as Northern New Jersey and Philadelphia (22% of Total SF)
Keystone Southeastern exposure with substantial Atlanta presence (31% of Total SF)
Opportunity to capitalize on enduring Florida fundamentals with diverse statewide positions including South Florida, Tampa and Jacksonville (33% of Total SF)
Anchored by core Texas product in Dallas/Fort-Worth metro area (14% of Total SF)

SUBSTANTIAL VALUE CREATION UPSIDE VIA MARK-TO-MARKET

Portfolio is currently 91.5% leased with 3.3 years of WALT, providing a quick-trigger avenue to grow NOI as twothirds of Portfolio square footage rolls within five (5) years.
Critical future value creation strategy via mark-to-market of in-place rents approximately 28.1% below market within high-growth, infill multi-tenant product.
Staggered rollover schedule in which no more than 19% of leases expire in any given year, limiting downside exposure in any given year while allowing ownership to steadily grow cash flow.

OPPORTUNITY TO ACQUIRE CRITICAL MASS OF INFILL SHALLOW-BAY ASSETS

Comprising 1.8 million square feet across 30 assets in multiple fundamentally-robust markets, the Portfolio represents a rare opportunity to establish a national footprint in high-performing infill shallow-bay logistics product.
Heightened replacement costs for infill product increase rarity factor - hard cost escalations combined with increasingly scarce bulk developable land sites continue to govern infill supply.
Heightened replacement costs for small-format infill logistics facilities increase rarity factor of the Portfolio and provide highly advantageous acquisition basis at significant discount to duplication.
Protracted hard cost escalations combined with increasingly scarce well-located infill development sites in the Portfolio markets continues to govern competing future supply.

FUNCTIONAL MULTI-TENANT LOGISTICS PRODUCT

The Infill Growth Industrial Portfolio sports a multitude of sought-after design characteristics that present an ideal profile for future leasing optionality.
91% concentration of multi-tenant assets with limited presence of freestanding single-tenant facilities.
Predominantly rear-load configurations with a total of 122 suites across the total footprint.
23’ average clear height (minimum 18’) with appropriate 27% office finish.