Mapletree Logistics Trust has entered into an agreement to acquire a Grade A warehouse in Bhiwandi, Mumbai, for Rs three point eight nine billion (bn), equivalent to S$53.6 million (mn), the manager announced. The transaction marks the trust's first expansion into the Mumbai logistics market and involves the purchase of an investment holding company and a property holding company from unrelated third parties. The property was independently valued at Rs three point nine five billion (bn) as at 28 February, representing a slight premium to the purchase price. The acquisition adds Mumbai to the trust's India portfolio, which already includes assets in Pune and Delhi, and the manager said India is becoming a preferred warehousing destination in Asia due to rising domestic consumption and supply chain realignment. The freehold facility was completed in August 2025 and comprises two single storey blocks with a net lettable area of 79,378 square metres. Technical specifications include a floor to ceiling height of 12.5 m and a floor loading capacity of 70 kilonewtons per square metre, while environmental features include LED lighting and roof insulation. The warehouse is fully leased to two listed food and grocery e-commerce companies and both tenants have installed cold storage fit-outs at the site. The leases have a remaining weighted average term of three point nine years as at 28 February and include annual rent escalations, providing income stability for the trust. The Bhiwandi sub market is located 70 km from Mumbai's city centre and provides access to major transport routes including the Mumbai Pune and Mumbai Nashik highways, and is expected to benefit from infrastructure projects such as the Western Dedicated Freight Corridor and the Virar JNPT Expressway. The manager intends to fund the acquisition entirely through debt and expects the deal to be accretive to distribution per unit, with aggregate leverage rising to 40.9 per cent from 40.7 per cent as at 31 December 2025; completion is expected in the fourth quarter of FY26.