CapitaLand Ascendas REIT acquires Spain logistics assets for $185.4m

The portfolio comprises two assets in Madrid and four in Barcelona.

CapitaLand Ascendas REIT (CLAR) has acquired six Grade A logistics assets in Spain for a total gross purchase consideration of $185m (€124.0m).

The portfolio comprises two assets in Madrid and four in Barcelona, with a total gross floor area of 98,825 sqm, the group said in a press release.

As at 1 January 2026, the properties are fully occupied and have a weighted average lease to expiry of 9.1 years. The leases carry index-linked annual rental adjustments.

The acquisition is expected to be distribution per unit (DPU) accretive.

Assuming the deal had been completed on 1 January 2025, DPU accretion would have been approximately 0.014 cents, or 0.1%, on a pro forma basis.

The first-year net property income yield is projected at 6.3% before transaction costs and 6.5% after transaction costs.

The purchase price represents a 5.9% discount to the independent market valuation of $197.0m (€131.7m) as at 31 October 2025.

Following the acquisition, CLAR’s aggregate leverage is expected to increase marginally to 39.1% from 39.0% as at 31 December 2025 on a pro forma basis.

(€1.00 = $1.49)

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