Photo from Ascendas REIT

Ascendas REIT to acquire cold storage facility at 1 Buroh Lane for $191.9m

The acquisition will be funded through internal resources and/or existing debt facilities.

Ascendas Real Estate Investment Trust (Ascendas REIT) will be acquiring a cold storage facility at 1 Buroh Lane for a purchase consideration of  $191.9m.

The acquisition will be funded through internal resources and/or existing debt facilities.

The five-storey ramp-up logistics distribution centre is the REIT’s first cold storage facility investment in Singapore.

According to the REIT’s manager, the property has a long weighted average lease to expiry of 7.0 years and is fully occupied by five well-established tenants including a supermarket chain and leading distributors of fruits and vegetables. 

The REIT’s manager said the acquisition is distribution per unit (DPU) accretive.

“The estimated net property income (“NPI”) yield for the first year post-acquisition is approximately 7.0% and 6.9% pre-transaction costs and post-transaction costs, respectively,” the manager added. 

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!

Top News

DBS and OCBC expected to deliver steady Q1 net profits
Their net interest margins will ease as a result of their Hong Kong loans.
Singapore's maritime cluster navigates towards digital, green future
Adapting to emerging challenges, such as the adoption of alternative fuels, is deemed crucial for the country's maritime sector.
Shipping & Marine
SCG and A*STAR unveil joint labs for cellular immunotherapy enhancement
The partnership has a funding of nearly $30m supported under Singapore's Research, Innovation and Enterprise 2025 plan.