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

According to an independent valuation by HSBC Institutional Trust Services (Singapore), the portfolio had an accumulated market value of $140.5 million since March 29.

“Adhering to our outstanding opening into the US logistics market in November 2021, we are pleased to attain one more profile making up 7 logistics homes in Chicago, the largest industrial industry in the nation founded on remaining room,” claims William Tay, executive supervisor and CEO of the REIT manager.

Midtown Modern condominium

The portfolio 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.

He includes that the profile of properties has a prolonged weighted common contract expiration of 5 years furthermore is completely rented to twelve occupants. The occupants involve logistics company, engineering firms, and also a food dealer.

Ascendas REIT will most likely acquire an accounts of seven logistics real estates in Chicago, Illinois, in the United States. The REIT’s supervisor, Asendas Funds Supervision, revealed that the complete investment consideration for the portfolio is $133.2 million.

The acquisition is expected to be wrapped up by 2Q2022.

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