The acquisition plans were first announced in a bourse filing on Oct 7. The three properties will increase the value of CLAR’s Singapore portfolio to about $12.3 billion. The enlarged portfolio will account for 68% of CLAR’s total assets under management.
CapitaLand Ascendas REIT (CLAR) says it has completed the acquisition of three properties in Singapore from a Warburg Pincus-Lendlease Global joint venture for approximately $565.8 million.
In a Dec 30 bourse filing, CLAR says it completed the acquisition of: 2 Pioneer Sector 1, a ramp-up logistics property; Tuas Connection, a light industrial property; and 9 Kallang Sector, a high-specifications industrial property. The three properties were acquired at a 3.9% discount off the latest valuation of $589 million.
