- CapitaLand Ascendas REIT has proposed to acquire 9 Tai Seng Drive (9TSD), a Tier III colocation data centre, and 5 Science Park Drive (5SPD), a premium business space property for total purchase consideration of S$700m.
Acquiring Tier III colocation data centre in Singapore.
- - Read this at SGinvestors.io -
- The agreed property value of S$455m represents a 2.2% discount to independent valuation. 9TSD provides first year NPI yield of 7.2% pre-transaction costs and 7.1% post-transaction costs based on existing colocation leases.
Acquiring premium business space property at Science Park 1.
- - Read this at SGinvestors.io -
- The agreed property value of S$245m represents a 7.0% discount to independent valuation. The first year NPI yield of 5SPD is 6.1% pre-transaction costs and 5.7% post-transaction costs, excluding the deferred consideration of S$30m.
- We estimate NPI yield at 5.3% pre-transaction costs and 5.0% post-transaction costs, if we include the payment for the deferred consideration of S$30m.
Expansion of data centre portfolio in Singapore.
- Read more at SGinvestors.io.
