CapitaLand Ascendas buys S$1.4B assets
CapitaLand Ascendas REIT agreed to a S$1.4 billion deal acquiring logistics assets and is entering Japan with a hyperscale data center — a major industrial-REIT expansion into data infrastructure (markets.businessinsider.com). The move reinforces demand for logistics and data-center exposure inside listed REITs amid continued institutional allocations (markets.businessinsider.com).
CLAR is buying 100% of 25 Loyang Crescent — described by the manager as a cluster of ramp‑up logistics and industrial buildings — for S$504.2 million (capitaland.com). The manager will acquire a 50% interest in Ascent, a premium business‑space asset at 2 Science Park Drive, for S$245.0 million, with the remaining 50% to be acquired by a global sovereign wealth fund, per the deal announcement (capitaland.com). CLAR will take a 49% stake in a Tier‑III hyperscale data centre in Greater Osaka for S$620.7 million (¥76.4 billion), while the other interest in the asset is held by a fund managed by Mitsui & Co. Realty Management Ltd. (capitaland.com). To fund these purchases CLAR launched an equity fund raising to raise no less than approximately S$900 million via a private placement and a non‑renounceable preferential offering, and the manager later reported gross proceeds of about S$903.5 million from the two tranches. (investor.capitaland-ascendasreit.com) (edgeprop.sg). The private placement was priced at S$2.406 per placement unit after an accelerated book‑building process, with 249.377 million placement units to be issued, according to the REIT’s SGX announcement of placement results. (links.sgx.com). The manager said the transactions are accretive on a pro‑forma basis, would lift CLAR’s portfolio value toward about S$19.9 billion and are expected to lower aggregate leverage from around 39.0% to roughly 34.5% after deployment of fundraising proceeds. (reitsweek.com) (capitaland.com).
