Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil

Ascendas REIT will definitely obtain a portfolio of seven logistics properties in Chicago, Illinois, in the US. The REIT’s executive, Asendas Funds Administration, announced that the full acquisition factor for the accounts is $133.2 million.

The accounts is being jointly marketed by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and Icon Pac Owner Pool 4 Northeast/Midwest.

William Tay includes that the profile of residential properties has a prolonged weighted standard rental expiry of 5 years furthermore is completely leased to 12 tenants. The lessees include logistics company, engineering companies, and also a food dealer.

“”Supporting our effective entry into the United States logistics sector in November 2021, we are pleased to get another portfolio making up 7 logistics residences in Chicago, the biggest industrial market in the nation based on occurring room,” announces Tay, executive administrator and CEO of the REIT supervisor.

Sky Everton SL Capital Private Limited

According to an independent valuation by HSBC Institutional Trust Services (Singapore), the portfolio had a combined market price of $140.5 million as of March 29.

The procurement is anticipated to be carried out by 2Q2022.