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

“Adhering to our outstanding entrance into the United States logistics sector in November 2021, we are pleased to get one more portfolio making up seven logistics buildings in Chicago, the largest commercial business in the country based on remaining room,” announces William Tay, managerial supervisor and CEO of the REIT supervisor.

Ascendas REIT will definitely obtain a portfolio of 7 logistics real estates in Chicago, Illinois, in the United States. The REIT’s executive, Asendas Funds Management, released that the full buy consideration for the portfolio is $133.2 million.

One Pearl Bank condo floor plan

The accounts is being collectively sold 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 accumulated market value of $140.5 million as of March 29.

He adds that the portfolio of real estates has a prolonged weighted ordinary rent expiry of five years and is fully leased to twelve renters. The tenants consist of logistics service companies, engineering business, and also a food merchandiser.

The acquisition is anticipated to be completed by 2Q2022.

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