Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
According to an independent valuation by HSBC Institutional Trust Services (Singapore), the portfolio had a combined market price of $140.5 million since March 29.
William Tay includes that the profile of homes has a lengthy weighted typical rent expiry of five years and also is totally rented to twelve tenants. The renters consist of logistics company, engineering companies, and a food supplier.
The portfolio is being collectively distributed 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 seven logistics buildings in Chicago, Illinois, in the US. The REIT’s business manager, Asendas Funds Management, declared that the full buy factor for the portfolio is $133.2 million.
“Adhering to our profitable opening into the US logistics sector in November 2021, we are pleased to gain an additional portfolio consisting of seven logistics homes in Chicago, the best commercial business in the country based on occurring room,” states Tay, executive supervisor as well as chief executive officer of the REIT supervisor.
The procurement is expected to be finalized by 2Q2022.
