Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
The accounts is being collectively sold by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and Icon Pac Owner Pool 4 Northeast/Midwest.
William Tay says that the profile of residential properties has a long heavy average rent expiry of 5 years furthermore is completely used to twelve lessees. The renters such as logistics provider, engineering business, and a food distributor.
According to an independent evaluation by HSBC Institutional Trust Services (Singapore), the portfolio had an accumulated market price of $140.5 million since March 29.
“Adhering to our successful entrance right into the United States logistics business in November 2021, we delight in to obtain an additional profile comprising 7 logistics residential properties in Chicago, the largest commercial industry in the country based upon presenting space,” mentions William Tay, managerial director and chief executive officer of the REIT executive.
SINGAPORE (EDGEPROP) – Ascendas REIT will most likely get an accounts of 7 logistics residential properties in Chicago, Illinois, in the US. The REIT’s executive, Asendas Funds Administration, introduced that the total purchase consideration for the accounts is $133.2 million.
The acquisition is expected to be carried out by 2Q2022.