Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
Ascendas REIT will most likely get a collection of seven logistics properties in Chicago, Illinois, in the US. The REIT’s executive, Asendas Funds Management, reported that the overall buy factor for the portfolio is $133.2 million.
According to a private appraisal by HSBC Institutional Trust Services (Singapore), the portfolio had an aggregate market price of $140.5 million as of March 29.
The accounts is being collectively marketed by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and also Icon Pac Owner Pool 4 Northeast/Midwest.
“Copying our successful entrance into the US logistics industry in November 2021, we delight in to attain one more profile consisting of 7 logistics estates in Chicago, the largest industrial market in the nation built upon existing room,” explains William Tay, executive director as well as chief executive officer of the REIT manager.
He includes that the portfolio of residences has a lengthy heavy typical rental expiration of 5 years together with is fully rented to twelve tenants. The tenants such as logistics service providers, engineering companies, and also a food vendor.
The procurement is expected to be finished by 2Q2022.