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CapitaLand Ascendas REIT

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.

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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.

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