CLAR to invest $1.4b in Singapore assets, Japan data centre stake

The REIT enters Greater Osaka with a $620.7 m deal for a 49% stake in the centre.

CapitaLand Ascendas REIT (CLAR) has agreed to acquire two assets in Singapore and a stake in a data centre in Japan in transactions totalling about $1.4b.

The REIT will acquire a 100% interest in 25 Loyang Crescent, a cluster of ramp-up logistics and industrial buildings in Singapore, for $504.2m.

It will also take a 50% stake in Ascent, a business space property at 2 Science Park Drive, for $245m.

Meanwhile, a global sovereign wealth fund will acquire the remaining interest in the property.

In Japan, CLAR will acquire a 49% interest in a Tier III hyperscale data centre in Greater Osaka for a purchase consideration of $620.7m (JPY76.4b).

The remaining stake will be held by a fund managed by Mitsui & Co. Realty Management Ltd, a subsidiary of Mitsui & Co. Ltd.

$1 = JPY124.08

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