CapitaLand Ascendas REIT to sell five SG properties for $329m

Net proceeds are expected to be $313.1m.

CapitaLand Ascendas REIT (CLAR) will divest five industrial and logistics properties in Singapore for $329m.

The properties are 31 Ubi Road 1, 9 Changi South Street 3, 10 Toh Guan Road, 19 & 21 Pandan Avenue, and 30 Tampines Industrial Avenue 3.

The sale represents a 6% premium over their market value of $311.3m and a 20% premium over their original purchase price of $274.2m.

Net proceeds are expected to be S$313.1m and could be used to reduce debt, fund investments, or support distributions to unitholders.

If applied to repay borrowings as of 31 December 2024, CLAR’s leverage would fall from 37.7% to 36.6%.

The divestments are expected to complete in Q4 2025, leaving CLAR with 226 properties across Singapore, Australia, the US, and the UK/Europe.

This follows the June 2025 sale of Parkside in Portland, US, for $26.5m, a 45% premium to its market value.

Total divestments announced by CLAR in 2025 now total $355.5m.