CapitaLand Ascendas REIT completes Japan data centre acquisition

The REIT used $188.3m from its equity fundraising proceeds to partially finance the Greater Osaka asset.

CapitaLand Ascendas REIT (CLAR) has completed its acquisition of a 49.0% interest in a data centre located in Greater Osaka, Japan.

The REIT used an additional $188.3m, or 20.8% of the gross proceeds from its equity fundraising, to partially finance the acquisition.

CLAR raised about $903.5m in gross proceeds from the fundraising. Of this, $567.9m has been used, whilst $335.6m remains unused.

The proceeds used include funds allocated for earlier acquisitions, including the Pioneer Sector 1, Tuas Connection, and 9 Kallang Sector portfolio in Singapore, DHL Canal Winchester in the US, six Class A logistics properties in Spain, and a 50% interest in Ascent at Singapore Science Park 1.

The remaining proceeds include $218.3m allocated for a logistics estate at 25 Loyang Crescent, $30.4m for a potential light industrial asset in Singapore, and $82.2m for a potential ramp-up logistics facility in Singapore.

CLAR said it will make further announcements when the remaining proceeds are materially disbursed.