Post-transaction costs, the proposed acquisitions are expected to generate a first year net property income yield of 6.3% for Ascendas REIT.
SINGAPORE (Nov 4): OCBC Investment Research is keeping it’s “hold” call but raising its fair value estimate for Ascendas Real Estate Investment Trust by over 9% to $3.25 on the back of strong long-term prospects from an enlarged scale.
Already the largest listed industrial REIT on the Singapore Exchange based on asset size and market capitalisation, Ascendas REIT on Nov 1 announced the proposed acquisition of a portfolio of 30 business park properties from CapitaLand for $1.66 billion.
