Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
Ascendas REIT will most likely acquire a profile of 7 logistics residences in Chicago, Illinois, in the United States. The REIT’s business manager, Asendas Funds Administration, declared that the complete buy factor for the accounts is $133.2 million.
“Copying our outstanding access into the United States logistics market in November 2021, we delight in to attain one more portfolio comprising 7 logistics residences in Chicago, the best industrial industry in the country founded on occurring area,” says William Tay, managerial chief and chief executive officer of the REIT supervisor.
The portfolio is being collectively offered by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, as well as Icon Pac Owner Pool 4 Northeast/Midwest.
He adds that the portfolio of estates has a lengthy heavy ordinary rent expiration of five years furthermore is totally leased to 12 tenants. The lessees consist of logistics provider, engineering firms, as well as a food dealer.
According to an independent appraisal by HSBC Institutional Trust Services (Singapore), the portfolio had an accumulated market price of $140.5 million since March 29.
The acquisition is expected to be done by 2Q2022.