Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
According to an independent assessment by HSBC Institutional Trust Services (Singapore), the portfolio had an aggregate market value of $140.5 million since March 29.
The portfolio is being jointly 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.
Ascendas REIT will get an accounts of seven logistics properties in Chicago, Illinois, in the US. The REIT’s business manager, Asendas Funds Administration, declared that the complete purchase factor for the portfolio is $133.2 million.
“Copying our successful opening right into the United States logistics sector in November 2021, we delight in to attain an additional profile consisting of seven logistics real estates in Chicago, the most extensive commercial business in the nation built on remaining area,” explains William Tay, managerial supervisor as well as chief executive officer of the REIT executive.
He adds that the portfolio of properties has an extensive heavy average rent expiry of 5 years along with is totally rented to 12 occupants. The lessees involve logistics provider, engineering firms, and also a food distributor.
The procurement is anticipated to be accomplished by 2Q2022.