The Singapore-listed CapitaLand Ascendas REIT (CLAR) has sold five industrial and logistics properties to unrelated third parties for a total of S$329m (€219m) with four in Singapore and the fifth in the US.
The trust said proceeds from the divestments would be used for various purposes, including financing committed investments, paying down debt, extending loans to subsidiaries, funding general corporate and working capital needs.
The portfolio comprises one industrial and three logistics properties with a total gross floor area of 186,346sqm. The Portland asset in Oregon in the US, will be sold for S$26.5m reflecting a premium of approximately 45% to the market valuation of S$18.25m as at 31 December 2024.
Following the completion of the transaction, CLAR will own 226 properties comprising 93 assets in Singapore, 34 properties in Australia, 49 properties in the US and 50 properties in the United Kingdom/Europe.
The transactions are expected to be settled in the fourth quarter of 2025.
To read the latest IPE Real Assets magazine click here.
