Singapore’s CapitaLand Ascendas REIT to buy two properties for $543.6 million
BENGALURU: Singapore’s CapitaLand Ascendas REIT said on Wednesday it will acquire a data centre and a premium business park property in the city-state for a combined S$700.2 million ($543.63 million). The REIT said the acquisitions will increase the value of its Singapore portfolio by 6% to approximately S$11.7 billion. Both properties are fully leased to “reputable tenants”, the company added, guaranteeing stable and predictable income streams. The data centre is being acquired at a 2.2% discount to its average independent market valuation as of May 15, while the business park asset is being bought at a 7% discount to its…