Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
Ascendas REIT will acquire an accounts of seven logistics residences in Chicago, Illinois, in the United States. The REIT’s manager, Asendas Funds Supervision, reported that the complete buy consideration for the accounts is $133.2 million.
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 says that the profile of buildings has an extensive weighted average rental expiry of five years and also is totally used to 12 renters. The tenants involve logistics provider, engineering firms, as well as a food dealer.
“Copying our profitable entry into the United States logistics industry in November 2021, we are pleased to obtain one more portfolio consisting of seven logistics residences in Chicago, the best industrial market in the country based upon occurring room,” states Tay, executive director as well as chief executive officer of the REIT executive.
According to a private evaluation by HSBC Institutional Trust Services (Singapore), the portfolio had a combined market price of $140.5 million since March 29.
The acquisition is expected to be accomplished by 2Q2022.