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

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

“Adhering to our successful opening right into the United States logistics market in November 2021, we delight in to obtain another profile making up seven logistics homes in Chicago, the major commercial industry in the nation founded on occurring space,” says William Tay, executive administrator and CEO of the REIT executive.

He includes that the profile of real estates has a prolonged heavy common rental expiry of 5 years furthermore is fully leased to twelve lessees. The lessees such as logistics company, engineering companies, and a food vendor.

Forett at Bukit Timah Qingjian Realty

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

Ascendas REIT will definitely obtain a collection of seven logistics properties in Chicago, Illinois, in the United States. The REIT’s supervisor, Asendas Funds Management, declared that the all-out investment factor for the accounts is $133.2 million.

The procurement is expected to be done by 2Q2022.

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