Ascendas Reit sells three Australian logistics properties

The total sale price for the three properties is $128.7m.

Ascendas Real Estate Investment Trust (Ascendas Reit) has entered into two separate agreements for the sale of three of its logistics properties in Australia.

The first agreement is with Strategic Industrial Real Estate, for the sale of two of its Brisbane properties, for $104.5m.

The second agreement is with China Tube Pty Ltd and Haelram Pty Ltd for sale of units in a property located in Melbourne, for $24.2m.

Net proceeds after the divestment costs are expected to be at $124.0m, to be recycled to fund committed investments, repay existing debt, extend loans to subsidiaries, fund general corporate and working capital needs, and/or to distribute to unit holders.

Follow the link for more news on

Ascendas REIT

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