235 views
Photo from CLAR

CapitaLand Ascendas REIT divests 3 assets in Australia for $64.2m

The REIT will gain net proceeds of $60.8m from the divestment.

CapitaLand Ascendas REIT (CLAR) has divested three of its logistics assets in Australia for $64.2m, a premium of 6.2% over the total market valuation of the properties of $60.4m.

The divested properties --- 77 Logistics Place, 62 Sandstone Place and 92 Sandstone Place --- are in Queensland, Australia.

In a bourse filing, CLAR said it will gain net proceeds of $60.8m from the divestment.

The REIT plans to utilise the proceeds from the divestment for various purposes, including financing committed investments, repaying existing indebtedness, extending loans to subsidiaries, funding general corporate and working capital needs, and/or making distributions to unitholders. 
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!