Ascendas REIT to acquire cold storage facility at 1 Buroh Lane for $191.9m

The acquisition will be funded through internal resources and/or existing debt facilities.

Ascendas Real Estate Investment Trust (Ascendas REIT) will be acquiring a cold storage facility at 1 Buroh Lane for a purchase consideration of $191.9m.

The acquisition will be funded through internal resources and/or existing debt facilities.

The five-storey ramp-up logistics distribution centre is the REIT’s first cold storage facility investment in Singapore.

According to the REIT’s manager, the property has a long weighted average lease to expiry of 7.0 years and is fully occupied by five well-established tenants including a supermarket chain and leading distributors of fruits and vegetables.

The REIT’s manager said the acquisition is distribution per unit (DPU) accretive.

“The estimated net property income (“NPI”) yield for the first year post-acquisition is approximately 7.0% and 6.9% pre-transaction costs and post-transaction costs, respectively,” the manager added.

Follow the link for more news on

Ascendas REIT

Acquisitions

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia