Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil

“Copying our profitable access right into the United States logistics market in November 2021, we are pleased to attain one more portfolio consisting of seven logistics buildings in Chicago, the best industrial market in the country built on existing room,” announces William Tay, managerial chief and chief executive officer of the REIT executive.

He adds that the portfolio of residential properties has a long heavy common rental expiry of five years and also is totally used to 12 tenants. The tenants such as logistics service providers, engineering companies, and a food supplier.

The portfolio is being collectively marketed by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, as well as Icon Pac Owner Pool 4 Northeast/Midwest.

The Landmark Condo Chin Swee Road

Ascendas REIT will obtain a portfolio of 7 logistics real estates in Chicago, Illinois, in the United States. The REIT’s supervisor, Asendas Funds Supervision, introduced that the all-out investment factor for the accounts is $133.2 million.

According to a private evaluation by HSBC Institutional Trust Services (Singapore), the portfolio had a collected market value of $140.5 million as of March 29.

The acquisition is expected to be carried out by 2Q2022.