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Ascendas REIT To Acquire 11 Last Mile Logistics Properties In Kansas City, United States

Ascendas REIT To Acquire 11 Last Mile Logistics Properties In Kansas City, United States

October 22, 2021 – Ascendas Real Estate Investment Trust announced the proposed acquisition of a portfolio of 11 logistics properties located in Kansas City, United States , for S$207.8 million (US$156.0 million) from ColFin 2017-11 Industrial Owner, LLC and ColFin Cobalt I-II Owner, LLC, third party vendors.

Mr William Tay, Executive Director and Chief Executive Officer of the Manager said, “This acquisition of 11 logistics properties in Kansas City marks our first entry into the US logistics market and is complementary to Ascendas Reit’s existing logistics portfolio.”

:The strong market fundamentals driven by rising warehousing requirements for e- commerce fulfilment has led to record net absorption levels and rent growth across the country.”

“We are confident of the growth potential of this portfolio given Kansas City’s geographically central location within the US and its well-developed transportation infrastructure. We believe that there will be continuous high demand for this portfolio, which comprises 200,000 sqm of last mile logistics space offering convenient access to the domestic market, midwestern population centres and other commercial hubs across the country.”

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