May 16 (Reuters) - Mapletree Industrial Trust said on Friday it has agreed to

sell three of its Singaporean industrial properties to Brookfield Asset Management ( BAM ) for

a total of S$535.3 million ($412.82 million).

The properties are being sold to the New York-headquartered asset manager at a 2.6% premium

to their independent valuations of S$521.5 million as of March 31.

The price also represents an over 22% increase from their original investment cost of

S$438.4 million, Mapletree said.

These three properties, namely The Strategy, The Synergy and the Woodlands Central Cluster,

combined accounted for about 6.3% of the company's gross revenue for the financial year ended

March 31, it added.

Mapletree said the proposed divestment is expected to be completed by the third quarter of

2025.

($1 = 1.2967 Singapore dollars)