July 23 (Reuters) - Singapore's Mapletree Industrial Trust MAPI.SI plans to divest S$500 million to S$600 million ($387.21 million-$464.65 million) worth of assets spanning North America to pay off debt and invest in other projects, including data centres, the firm said on Thursday.

Here are some more details:

• Mapletree Industrial, which owns factories and other industrial assets in Singapore, said it intends to use the proceeds from the disposal to cover debt repayments.

• Total investment in North America is around $3 billion, as of March 31, 2026, the company's annual report showed.

• The decision comes as the firm grapples with non-renewal of property leases in its North American portfolio, eroding rental income, a concern it aims to address through the divestitures.

• Mapletree would also redeploy the capital into assets that can provide sustainable growth, it said in its statement.

• The firm added that it would explore opportunities in both data centre and broader industrial sectors.

• The company reported a lower net property income of S$122.3 million for the first quarter, compared with S$133.6 million from a year ago.

• It also announced a distribution per unit of 3.11 Singapore cents per share.

• In May, the real estate investment trust divested its Philadelphia data centre for $14.5 million to optimise capital allocation.

($1 = 1.2913 Singapore dollars)