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Ascendas REIT Divests Three Logistics Properties in Australia

June 4, 2021 – Ascendas REIT announced that it has today entered into two separate agreements with unrelated purchasers for the sale of two logistics properties located in Brisbane and one logistics property located in Melbourne, Australia.

The total sale price for the three properties is S$128 million (US$96.4 million).

The REIT said the Proposed Divestments are in line with the Manager’s proactive asset management strategy to improve the quality of Ascendas Reit’s Australian portfolio and optimise returns for Unitholders.

The Proposed Divestments are expected to complete by 3Q 2021 and are not expected to have any material effect on Ascendas Reit’s net asset value and distribution per unit for the financial year ending 31 December 2021.

Read more here..

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