Temasek-backed Mapletree raises $443m for new Australian private trust

Singapore-based real estate asset manager Mapletree Investment has closed its Australian private commercial trust, Mascot Private Trust (MASCOT), after raising A$654 million in equity.

The trust secured the backing of institutional, corporate, and high-net-worth investors, the firm, which is owned by Singapore’s state investor Temasek Holdings Pte, said.

MASCOT is fully invested at closing and owns 10 Grade A office assets located in key Australian cities of Sydney, Melbourne, Adelaide, Brisbane, and Perth. The portfolio has a total asset value of about A$1.4 billion ($947 million).

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