Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
The portfolio is being collectively offered by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and also Icon Pac Owner Pool 4 Northeast/Midwest.
William Tay remarks that the profile of buildings has an extensive heavy average rent expiration of 5 years and is completely hired to twelve renters. The occupants involve logistics company, engineering business, and a food dealer.
According to a private evaluation by HSBC Institutional Trust Services (Singapore), the portfolio had a collected market value of $140.5 million since March 29.
“Copying our profitable opening into the United States logistics market in November 2021, we are pleased to acquire an additional portfolio making up 7 logistics estates in Chicago, the biggest industrial business in the nation built upon presenting area,” claims Tay, managerial supervisor and chief executive officer of the REIT manager.
Ascendas REIT will most likely get a profile of seven logistics real estates in Chicago, Illinois, in the US. The REIT’s executive, Asendas Funds Supervision, revealed that the all-out buy factor for the portfolio is $133.2 million.
The purchase is anticipated to be finished by 2Q2022.