Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
According to an independent assessment by HSBC Institutional Trust Services (Singapore), the portfolio had an aggregate market value of $140.5 million since March 29.
The accounts is being collectively offered by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, as well as Icon Pac Owner Pool 4 Northeast/Midwest.
William Tay said that the portfolio of buildings has a lengthy heavy standard lease expiry of 5 years and also is fully hired to twelve renters. The renters consist of logistics provider, engineering firms, as well as a food supplier.
Ascendas REIT will get a collection of 7 logistics real estates in Chicago, Illinois, in the US. The REIT’s executive, Asendas Funds Management, announced that the full buy factor for the accounts is $133.2 million.
“”Following our successful access right into the United States logistics business in November 2021, we are pleased to get an additional portfolio consisting of 7 logistics buildings in Chicago, the biggest industrial business in the nation based on existing space,” claims Tay, managerial administrator and CEO of the REIT manager.
The acquisition is anticipated to be finished by 2Q2022.