Singapore’s CapitaLand Ascendas REIT (CLAR) has agreed to buy a logistics centre in the US from DHL USA in a US$115.8m (€110m) sale-and-leaseback deal.

The property, located in Whiteland in southeast Indianapolis, will be leased back to DHL USA upon settlement until December 2035, with options to renew for two additional five-year terms.

The manager intends to finance the acquisition, expected to close in the first quarter of next year, through a combination of internal resources, divestment proceeds and/or existing debt facilities.

William Tay, executive director and chief executive officer of the manager said: “This is another opportunity to further strengthen our logistics presence in the US, following our recent announcement on the development of our first logistics distribution property in South Carolina.

“DHL Indianapolis Logistics Center is a strategic fit with our existing portfolio and will increase CLAR’s US logistics portfolio value by 35.3% to S$587.5m (€414m) with a total gross floor area of 5.1m sqft.”

Tay said this transaction was the trust’s first sale and leaseback acquisition in the US and including this class A logistics property, modern logistics assets will account for 42.3% of its US logistics assets under management. 

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