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.

The Arden Qingjian Realty

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.

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