CapitaLand Ascendas REIT records 94.5% occupancy rate in Q3
CapitaLand Ascendas REIT bagged a $724.3m total acquisition in 3Q2023.
CapitaLand Ascendas REIT (CLAR) reports a 94.%% occupancy rate in Q3, 0.1% higher than the previous quarter.
In Singapore, occupancy improved to 92.7% mainly due to new take-ups at properties such as 10 Toh Guan, LogisTech, and The Aries, Sparkle and Gemini.
The company also reported a 10.2% portfolio rental reversion.
CLAR bagged a $724.3m total acquisition in 3Q2023, following the acquisition of a data centre in the United Kingdom for $209.4m.
The aggregate leverage remained healthy at 37.2% while the YTD weighted average all-in debt cost remained steady at 3.3%
Green financing totalled S$2.1b, accounting for about 29% of total borrowings.
$272m of borrowings are due to be refinanced in FY2023. 1.4% of Singapore’s gross rental income is also due for renewal in FY2023.
CLAR also maintained a high level of natural hedge of 75% for overseas investment to minimise the effects of any adverse exchange rate fluctuations.