The facility will be the first cold storage facility investment in Singapore, says William Tay, executive director and CEO of the manager.
The manager of Ascendas REIT has announced that it will be acquiring a cold storage logistics facility at 1 Buroh Lane in Singapore on Sept 14.
The facility will be acquired from A3 Lux Alpha S.a.r.l for a consideration of $191.9 million. Including fees, the total cost of the proposed acquisition is estimated to be around $196.2 million.
