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

According to a private assessment by HSBC Institutional Trust Services (Singapore), the portfolio had a combined market price of $140.5 million as of March 29.

“Sticking to our outstanding entrance into the US logistics sector in November 2021, we delight in to acquire an additional portfolio comprising 7 logistics assets in Chicago, the major industrial industry in the nation based upon occurring space,” claims William Tay, managerial administrator and CEO of the REIT supervisor.

Ascendas REIT will obtain a profile of 7 logistics residential properties in Chicago, Illinois, in the United States. The REIT’s supervisor, Asendas Funds Supervision, declared that the full acquisition factor for the portfolio is $133.2 million.

He includes that the profile of properties has an extensive weighted typical rent expiry of 5 years and also is totally leased to twelve tenants. The lessees involve logistics service companies, engineering firms, as well as a food vendor.

Royal Green showflat location

The portfolio is being collectively offered by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and also Icon Pac Owner Pool 4 Northeast/Midwest.

The procurement is anticipated to be accomplished by 2Q2022.

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