trending Market Intelligence /marketintelligence/en/news-insights/trending/qRxiDR3d46dkEbujJvrBEQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

CapitaLand settles S$1.67B transfer of US, Singapore properties to Ascendas REIT

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


CapitaLand settles S$1.67B transfer of US, Singapore properties to Ascendas REIT

CapitaLand Ltd. completed its nearly S$1.67 billion transfer of 28 business parks in the U.S. and two Singapore properties to its Ascendas Real Estate Investment Trust subsidiary.

The Singapore-listed real estate investment trust said it used nearly S$1.30 billion of the proceeds from its rights issuance to partially finance the transaction. Earlier, it noted that the remaining amount required for the acquisition will be financed using debt.

Following the transaction, Ascendas REIT's portfolio comprised 99 properties in Singapore, 35 properties in Australia, 38 properties in the U.K. and 28 properties in the U.S.

The REIT added in a Dec. 11 news release that it also appointed CapitaLand International USA LLC as the asset manager for its U.S. properties for a three-year term ending Oct. 1, 2022.

As of Dec. 11, US$1 was equivalent to S$1.36.