CapitaLand Ascendas REIT (CLAR) has bought a US logistics asset from global logistics group DHL in a S$94.5m (€81m) sale-and-leaseback deal.
The DHL Canal Winchester asset, currently under construction in Columbus, Ohio, represents CLAR’s second US transaction with DHL.
DHL will lease back the facility under a long-term lease until December 2030 with options to renew for two additional five-year terms.
William Tay, executive director and CEO of the manager, CapitaLand Ascendas REIT Management, said: “The accretive acquisition underscores our strategy of selectively investing in logistics growth markets in the US with excellent connectivity and deep occupier demand.”
The trust’s portfolio includes logistics assets in the Midwest cities of Chicago, Kansas City and Indianapolis.
Tay said the latest transaction follows a structure similar to the DHL Indianapolis Logistics Centre acquisition, which closed in January last year.
“DHL Canal Winchester will strengthen CLAR’s resilient income with its long-term lease and built-in annual rental escalations, which is expected to further enhance the quality and stability of our US logistics portfolio.”
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