Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
William Tay adds that the profile of estates has a lengthy heavy typical rent expiry of five years and is fully rented to twelve occupants. The occupants include logistics company, engineering business, and also a food distributor.
According to an independent appraisal by HSBC Institutional Trust Services (Singapore), the portfolio had a combined market value of $140.5 million since March 29.
“Supporting our profitable opening right into the United States logistics industry in November 2021, we are pleased to get an additional portfolio comprising 7 logistics commercial properties in Chicago, the largest commercial business in the country based upon presenting space,” mentions Tay, executive administrator as well as chief executive officer of the REIT manager.
The accounts is being jointly sold off by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and also Icon Pac Owner Pool 4 Northeast/Midwest.
Ascendas REIT will most likely acquire a portfolio of seven logistics homes in Chicago, Illinois, in the United States. The REIT’s manager, Asendas Funds Management, released that the all-out purchase factor for the portfolio is $133.2 million.
The purchase is expected to be wrapped up by 2Q2022.