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Ascendas REIT To Acquire Australian Logistic Portfolio Worth AUD1 Billion
Ascendas REIT has identified for acquisition a portfolio of 26 logistics properties located in Australia, which will cost a total of AUD1,013 million.
The target portfolio comprises of 26 prime institutional grade logistics properties located across Australia, which are all sited on freehold land and located in core sub-markets with accessibility to major transport infrastructure, with a gross leasable area of approximately 630,946 square metres.
In the first year, the proposed acquisition is expected to generate a net property income yield of approximately 6.4 percent before taking account the transactions cost, and 6 percent after taking into account the transaction costs.
The target portfolio is seen as complementary to the Singapore market and strengthens the group’s portfolio with high-quality properties on freehold land.
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