CapitaLand Ascendas REIT grows trade park portfolio

🕵️‍♂️ What came about?

CapitaLand Ascendas REIT introduced the purchase of Seagate’s Singapore headquarters, the Shugart, for S$218 million.  Supply: SGX as of nineteen Might 2023  

🔧 What you want to learn about CapitaLand Ascendas REIT’s newest acquisition

#1 – Acquisition supplies source of revenue balance

The Shugart is a contemporary specification asset positioned within the top one-north cluster in Singapore, and is used basically for R&D functions.  Seagate will rent it again from CapitaLand Ascendas REIT for 10 years, with an solution to prolong it by way of some other 10 years.  As well as, CapitaLand Ascendas REIT would obtain an annual hire building up of two.5%. image.png Supply: CapitaLand Ascendas REIT  

#2 – Acquisition will fortify CapitaLand Ascendas REIT’s portfolio

The purchase will fortify CapitaLand Ascendas REIT’s place within the trade park section.  Following the of entirety of the transaction in 2Q23, trade parks will constitute about 49% of the REIT’s portfolio. 


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