Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
“Copying our successful opening into the US logistics sector in November 2021, we delight in to get one more portfolio comprising seven logistics homes in Chicago, the most extensive commercial industry in the nation based on existing space,” explains William Tay, executive administrator as well as CEO of the REIT executive.
He includes that the portfolio of real estates has a long weighted common contract expiration of five years furthermore is fully hired to twelve occupants. The tenants include logistics provider, engineering business, and a food supplier.
Ascendas REIT will get a portfolio of 7 logistics residential properties in Chicago, Illinois, in the United States. The REIT’s supervisor, Asendas Funds Supervision, revealed that the all-out acquisition consideration for the portfolio is $133.2 million.
The portfolio is being collectively sold by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and Icon Pac Owner Pool 4 Northeast/Midwest.
According to an independent valuation by HSBC Institutional Trust Services (Singapore), the portfolio had an accumulated market value of $140.5 million as of March 29.
The acquisition is anticipated to be carried out by 2Q2022.