CapitaLand Ascendas REIT (CLAR) is acquiring a S$565.8m (€375m) logistics portfolio of three assets in Singapore from Vita Partners, Warburg Pincus and Lendlease’s joint venture.
The fully occupied assets include a ramp-up logistics property; Tuas Connection, a light industrial property; and 9 Kallang Sector, an industrial property.
William Tay, executive director and CEO of the manager, CapitaLand Ascendas REIT Management, said: “CLAR continues to strengthen its presence in Singapore with a total investment of approximately S$1.3bn in 2025.
“These accretive acquisitions build on our recent acquisitions of a Tier III colocation data centre and a premium business space property, which were completed in August 2025.”
CLAR said the properties have built-in growth, with in-place rents roughly 15% below market and the majority of leases featuring annual escalations of 1% to 5%.
Bart Price, Vita Partners CEO, told IPE Real Assets: “This divestment reflects our ongoing commitment to unlocking value through disciplined asset management and strategic exits.
“The three high-quality assets were part of a broader portfolio we acquired alongside our capital partners. This successful transaction demonstrates our consistent focus on creating and realising value for our investors.”
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