- CapitaLand Ascendas REIT announced the proposed acquisitions of two properties in Singapore.
- 9 Tai Seng Drive, a Tier III colocation data centre, and
- - Read this at SGinvestors.io -
Proposed acquisition for aggregate agreed property value of S$700.2m.
9 Tai Seng Drive.
- The purchase consideration of 9 Tai Seng Drive works out to be S$455.2m (excluding receivables, cash and payables of S$15.8m in the trust that holds the property) and would translate to an initial net property income (NPI) yield of 7.2% before transaction costs.
- This purchase consideration represents a 2.2% discount to the average of two independent market valuations. The property is 100% occupied and has a long weighted average lease expiry (WALE) of 4.4 years.
- - Read this at SGinvestors.io -
5 Science Park Drive.
- Read more at SGinvestors.io.