“We are confident of the growth potential of this portfolio given Kansas City’s geographically central location within the US and its well-developed transportation infrastructure,” Tay adds.
The manager of Ascendas REIT (A-REIT) has announced the proposed acquisition of 11 logistics properties in Kansas City, US for US $156 million ($207.8 million) on Oct 22. This marks the REIT’s first entry into the US logistic market.
“The strong market fundamentals driven by rising warehousing requirements for ecommerce fulfilment has led to record net absorption levels and rent growth across the country, says William Tay, executive director and CEO of the manager.
