SINGAPORE (Reuters) -CapitaLand Ascendas REIT said on Tuesday that it will acquire three industrial and logistics properties in Singapore for about S$565.8 million ($438 million) from Vita Partners, as part of a S$1.3 billion domestic investment drive for the year.
The transaction, aimed at strengthening CapitaLand’s domestic portfolio, is expected to close in the first quarter of 2026.
Upon completion, the acquisition will raise the value of CapitaLand’s Singapore assets to around S$12.3 billion, representing 68% of its total assets under management, the company said in a statement.
The properties, 2 Pioneer Sector 1, Tuas Connection, and 9 Kallang Sector, are fully leased to tenants in the technology, logistics, and life sciences sectors, with a weighted average lease expiry of 5.5 years, CapitaLand said.
The acquisitions are projected to deliver a net property income yield of about 6.1% after costs and are expected to be accretive to distribution per unit.
($1 = 1.2916 Singapore dollars)
(Reporting by Yantoultra Ngui; Editing by Sherry Jacob-Phillips)
