CapitaLand Ascendas REIT divests 3 assets in Australia for $64.2m

The REIT will gain net proceeds of $60.8m from the divestment.

CapitaLand Ascendas REIT (CLAR) has divested three of its logistics assets in Australia for $64.2m, a premium of 6.2% over the total market valuation of the properties of $60.4m.

The divested properties --- 77 Logistics Place, 62 Sandstone Place and 92 Sandstone Place --- are in Queensland, Australia.

In a bourse filing, CLAR said it will gain net proceeds of $60.8m from the divestment.

The REIT plans to utilise the proceeds from the divestment for various purposes, including financing committed investments, repaying existing indebtedness, extending loans to subsidiaries, funding general corporate and working capital needs, and/or making distributions to unitholders.

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