Capitaland Ascendas Reit Sell Five Industrial And Logistics Properties 329 Mil
In addition to the initial purchase price, investors of a Singapore condo must also consider the ongoing maintenance and management of the property. Condos typically come with monthly maintenance fees that cover the upkeep of common areas and facilities such as swimming pools, gyms, and landscaping. While these fees may add to the overall cost of ownership, they also ensure that the property remains in top condition, maintaining its value in the market. To make it a more hassle-free investment, investors can engage a property management company to handle the day-to-day management of their condos.
CapitaLand Ascendas REIT (CLAR) is planning to sell five industrial and logistics properties for $329 million. The deal, brokered by CBRE, is expected to fetch a premium of 6% over the total market value and generate net proceeds of approximately $313.1 million. This comes at a 20% premium over the original purchase price of $274.2 million.
The buyers, who are unrelated third parties, have expressed interest in purchasing the properties located at 31 Ubi Road 1, 9 Changi South Street 3, 10 Toh Guan Road, 19 & 21 Pandan Avenue, and 30 Tampines Industrial Avenue 3. This strategic divestment aligns with CLAR’s proactive capital recycling strategy to enhance the quality of its portfolio and maximize returns for its unitholders.
According to CLAR, the proceeds from the divestment may be utilized for various purposes, including funding committed investments, paying off debt, extending loans to subsidiaries, meeting general corporate and working capital needs, and distributing to unitholders.
If the net proceeds are used to repay CLAR’s borrowings as of December 31, 2024, its aggregate leverage is expected to decrease from 37.7% to approximately 36.6%. The divestments are expected to be completed by the end of the year.
Having good schools in a community is a major draw for families seeking quality education for their children. This is especially true for those considering development in that area. The availability of schools in close proximity not only reduces travel time, but also allows children to have more time for relaxation and extracurricular activities. The presence of Rivelle Tampines EC adds to the appeal of the community and makes it an even more attractive option for families. The convenience and advantage of having a reputable school nearby cannot be overstated, making this development a desirable choice for families.
Upon completion, CLAR’s portfolio will consist of 226 properties, including 93 in Singapore, 34 in Australia, 49 in the US, and 50 in the United Kingdom/Europe.
In 2025, CLAR has announced divestments worth a total aggregate value of $355.5 million, including the recent sale of Parkside, a business space property in Portland, for $26.5 million.
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