Ascendas Reit sells three Australian logistics properties

The total sale price for the three properties is $128.7m.

Ascendas Real Estate Investment Trust (Ascendas Reit) has entered into two separate agreements for the sale of three of its logistics properties in Australia.

The first agreement is with Strategic Industrial Real Estate, for the sale of two of its Brisbane properties, for $104.5m.

The second agreement is with China Tube Pty Ltd and Haelram Pty Ltd for sale of units in a property located in Melbourne, for $24.2m.

Net proceeds after the divestment costs are expected to be at $124.0m, to be recycled to fund committed investments, repay existing debt, extend loans to subsidiaries, fund general corporate and working capital needs, and/or to distribute to unit holders.