119 views

Ascendas Reit to acquire 7 logistics assets in Chicago for $133.2m

All properties are 100% occupied.

Ascendas Reit has proposed to acquire a portfolio of seven logistics properties located across Chicago, Illinois, United States for $133.2m, its manager Ascendas Funds Management (S) Limited announced.

In a bourse filing, the Reit's manager said the properties will be acquired from third-part vendors, BREIT Industrial HS Property Owner LLC, BREIT Industrial Canyon IL1M03 LLC, BCORE Jupiter NEMW 1 LLC, and Icon Pac Owner Pool 4 Northeast/Midwest, LLC.

The portfolio also comes with a long weighted average lease expiry (WALE) of five years and is 100% occupied by 12 tenants from "a diverse range of industries including logistics service providers, engineering companies and a food distributor," according to the CEO of the Reit's manager, William Tay.

"On average, the existing customers have occupied their current space for 10.6 years," the manager added.

The seven properties has total net lettable area (“NLA”) of 132,344 sq m and are located in infill locations across six growing industrial submarkets, namely, O’Hare, Central DuPage, South Cook County, I-88 Corridor, Southwest Cook County and I-39 Corridor.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

C&W Services transforms headquarters into a ‘living lab’
The new office is set to be the ground for the firm’s new facilities management technologies.
How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.

Event News

Event News