Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil
William Tay mentions that the portfolio of residences has a lengthy weighted average contract expiration of 5 years and is fully hired to 12 tenants. The occupants such as logistics company, engineering firms, and a food merchandiser.
According to a private appraisal by HSBC Institutional Trust Services (Singapore), the portfolio had a collected market price of $140.5 million since March 29.
“”Following our successful opening into the United States logistics business in November 2021, we are pleased to gain another portfolio making up seven logistics homes in Chicago, the most extensive commercial market in the nation built upon presenting room,” claims Tay, managerial supervisor and also CEO of the REIT manager.
Ascendas REIT will most likely obtain a collection of 7 logistics residences in Chicago, Illinois, in the US. The REIT’s executive, Asendas Funds Management, revealed that the overall purchase factor for the portfolio is $133.2 million.
The portfolio is being jointly distributed by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and Icon Pac Owner Pool 4 Northeast/Midwest.
The procurement is expected to be finished by 2Q2022.