CapitaLand Ascendas REIT Acquires Logistics Portfolio in Spain
MT Newswires
Feb 27
CapitaLand Ascendas REIT (SGX:A17U) expanded its European presence with the acquisition of a logistics portfolio in Spain for SG$185.4 million, according to a Friday filing with the Singapore Exchange.
The portfolio comprises two Grade A logistics assets in Madrid and four Grade A logistics properties in Barcelona, the filing said.
The acquisition is slated to add to the REIT's distribution per unit and is expected to have a net property income yield of around 6.3% pre-transaction in the first year.
Following the acquisition, the REIT's portfolio value has increased to SG$18.5 billion in total.
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