Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
According to a private assessment by HSBC Institutional Trust Services (Singapore), the portfolio had an accumulated market price of $140.5 million as of March 29.
William Tay includes that the portfolio of real estates has an extensive weighted common rent expiry of five years and is fully rented to twelve lessees. The lessees include logistics provider, engineering companies, as well as a food supplier.
The portfolio is being collectively distributed by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and also Icon Pac Owner Pool 4 Northeast/Midwest.
“”Adhering to our effective opening into the US logistics market in November 2021, we delight in to obtain one more portfolio making up seven logistics real estates in Chicago, the biggest commercial market in the country founded on occurring space,” announces Tay, executive director and CEO of the REIT supervisor.
Ascendas REIT will definitely obtain a portfolio of 7 logistics real estates in Chicago, Illinois, in the US. The REIT’s supervisor, Asendas Funds Administration, published that the overall investment factor for the portfolio is $133.2 million.
The purchase is anticipated to be finished by 2Q2022.