The REIT used proceeds from its private placement of $500 mil to fund the acquisition.

The manager of CapitaLand Ascendas REIT (CLAR) has completed the acquisition of the business space in 5 Science Park Drive, having used proceeds from its private placement to fund the acquisition. 

As a recap, the REIT announced on several dates between May and July the raising of $500 million in gross proceeds from a private placement. About $137.1 million or 27.4% of the gross proceeds has been used to fund the acquisition. 

The manager adds that it will make further announcements on the completion of the proposed acquisition of the data centre at 9 Tai Seng Drive when such completion takes place. 

Units in CLAR closed 3 cents lower or 1.091% down at $2.72 on Aug 6.