One Of Singapore's Largest REITs Plans To Sell 40% Of Its U.S. Data Centers

One of Singapore's largest public REITs has tapped JLL to sell a 22-building U.S. data center portfolio as investor demand for the asset class takes off.

Mapletree Industrial Trust, which has roughly $6.5B in assets under management, is looking to sell the 3.1M SF portfolio in a single transaction but is accepting offers for individual assets, according to a listing for the properties. The REIT's move comes as data center sales exploded in July, helping drive monthly transaction volume across all asset classes to a 20-year high.

The portfolio is spread across 15 states, and its properties have a weighted average lease term of 6.8 years. The majority of the assets are leased to well-known colocation providers on a triple-net basis, with the tenancy rounded out by technology, energy, government and telecommunications businesses.

The vast majority of the properties are fully leased, with Mapletree's largest tenants including HP, Equinix, Bank of America and Vanderbilt University, according to its quarterly financial results .

Its U.S. assets are in Arizona, California, Colorado, Georgia, Illinois, Indiana, Massachusetts, Michigan, North Carolina, New Jersey, Ohio, Oklahoma, Pennsylvania, South Carolina and Texas. Multiple facilities are in data center hubs around Atlanta and Phoenix.

Mapletree owned 54 data center assets in North America at the end of July, and the portfolio that is being marketed represents roughly 40% of its holdings on the continent. It also sold a Philadelphia data center for $14.5M in June and used the capital to pay down debt and fund other capital requirements.

The REIT more than doubled the size of its North American portfolio in 2021 with the $1.3B acquisition of 29 data centers in the U.S. from Sila Realty Trust. Mapletree is undergoing a "rejuvenation strategy through targeted divestments and disciplined reinvestment," the company said along with first-quarter results.

Net property income was up 2% from the prior quarter to $122M but down 8.5% year-over-year in the first quarter.

Investor interest in data centers exploded in 2026 after a relatively lackluster 2025 , with plenty of capital and debt available for construction but less for the acquisition of stabilized assets. As the sector matures, completed properties are drawing buyers interested in relatively stable in-place operating income.

July data center sales volume was up 1,911% from the prior year and totaled $33.8B, a large chunk of which came from BlackRock's acquisition of Aligned Data Centers . Data center sales accounted for 45% of the $74.4B total July sales volume across all asset classes, according to MSCI.