Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
Ascendas REIT will acquire a portfolio of 7 logistics buildings in Chicago, Illinois, in the US. The REIT’s manager, Asendas Funds Supervision, published that the overall buy consideration for the accounts is $133.2 million.
William Tay says that the portfolio of homes has a long heavy common contract expiration of 5 years furthermore is totally rented to 12 tenants. The tenants include logistics provider, engineering companies, as well as a food dealer.
“Sticking to our profitable entrance right into the US logistics industry in November 2021, we delight in to acquire one more profile consisting of 7 logistics residential properties in Chicago, the major industrial market in the country built on occurring area,” states William Tay, executive chief and chief executive officer of the REIT manager.
The accounts is being jointly offered by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and also Icon Pac Owner Pool 4 Northeast/Midwest.
According to a private assessment by HSBC Institutional Trust Services (Singapore), the portfolio had an aggregate market value of $140.5 million as of March 29.
The procurement is anticipated to be accomplished by 2Q2022.