Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
Ascendas REIT will most likely obtain a profile of seven logistics homes in Chicago, Illinois, in the US. The REIT’s supervisor, Asendas Funds Administration, disclosed that the all-out buy consideration for the accounts is $133.2 million.
William Tay states that the portfolio of business has a lengthy heavy common rental expiration of five years and also is totally used to 12 tenants. The occupants such as logistics provider, engineering business, and also a food distributor.
The accounts is being collectively sold by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and Icon Pac Owner Pool 4 Northeast/Midwest.
“Copying our outstanding entry right into the United States logistics business in November 2021, we delight in to obtain an additional portfolio consisting of 7 logistics real estates in Chicago, the major commercial market in the country founded on presenting space,” claims Tay, managerial director and also CEO of the REIT executive.
According to a private evaluation by HSBC Institutional Trust Services (Singapore), the portfolio had an aggregate market value of $140.5 million as of March 29.
The purchase is anticipated to be accomplished by 2Q2022.