---
title: "Mapletree Logistics Trust Q4 DPU falls 7%, eyes $300 million asset sales"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285131773.md"
description: "Mapletree Logistics Trust (MLT) reported a 7% decline in distribution per unit (DPU) to $0.01819 for Q4, impacted by divestments and currency fluctuations. For the full year, DPU fell 9.8% to $0.07262, with distributable amounts down 8.9% to $370.1 million. Despite these challenges, portfolio occupancy remained high at 96.9%. MLT plans to sell up to $300 million in assets, particularly in China, and has expanded its presence in India with a new warehouse acquisition. The firm anticipates ongoing pressure from rising borrowing costs and currency volatility."
datetime: "2026-05-04T22:48:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285131773.md)
  - [en](https://longbridge.com/en/news/285131773.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285131773.md)
---

# Mapletree Logistics Trust Q4 DPU falls 7%, eyes $300 million asset sales

**The firm posted weaker distributions amid divestments and currency headwinds, whilst portfolio occupancy stayed high at 96.9%.**

Mapletree Logistics Trust’s (MLT) distribution per unit fell (DPU) 7.0% YoY to $0.01819 for the fourth quarter ended 31 March, as divestments and weaker regional currencies weighed on earnings.

For the full year, DPU declined 9.8% to $0.07262, whilst the amount distributable to unitholders fell 8.9% to $370.1m. Gross revenue for the year slipped 2.6% to $708.3m, whilst net property income fell 2.4% to $610.2m.

The firm said the decline was mainly due to the absence of contributions from divested properties and currency weakness.

Excluding divestment gains, however, fourth-quarter DPU from operations rose 0.9% YoY, supported by stable same-store performance and contribution from a completed redevelopment project in Singapore.

MLT is also eyeing up to $300m in asset sales, with China assets earmarked for sale to be offloaded into a planned renminbi fund.

Operationally, MLT’s portfolio remained resilient. Occupancy improved to 96.9% as of 31 March, from 96.4% in the previous quarter. Rental reversion was 3.3% including China and 4.2% excluding China, whilst China’s rental reversion improved slightly to -2.0% from -2.2% in the previous quarter.

During the quarter, MLT expanded in India with the acquisition of a freehold Grade A warehouse in Mumbai for about INR3.89b, or $53.2m.

Borrowing costs fell 3.0% YoY in the quarter due to refinancing and debt repayment using divestment proceeds. Aggregate leverage stood at 40.6%, with an average borrowing cost at 2.6% per annum. About 83% of total debt was hedged into fixed rates.

Looking ahead, MLT said higher borrowing costs and currency volatility are expected to continue weighing on financial performance.

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