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

“Copying our outstanding entry into the US logistics industry in November 2021, we delight in to obtain an additional portfolio making up seven logistics homes in Chicago, the best commercial industry in the country founded on presenting space,” explains William Tay, managerial chief as well as CEO of the REIT executive.

He adds that the profile of real estates has an extensive heavy ordinary lease expiry of 5 years and is fully hired to 12 lessees. The tenants include logistics company, engineering companies, and also a food vendor.

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

One Bernam Singapore

The accounts is being collectively sold by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, as well as Icon Pac Owner Pool 4 Northeast/Midwest.

Ascendas REIT will definitely acquire a portfolio of 7 logistics residential properties in Chicago, Illinois, in the United States. The REIT’s executive, Asendas Funds Supervision, released that the total investment consideration for the accounts is $133.2 million.

The purchase is expected to be accomplished by 2Q2022.

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