CapitaLand Ascendas Reit to divest logistics property in Australia for S$90 million
Sale consideration is a 17.2% premium to the original purchase price of S$76.8 million when the property was acquired in 2015
[SINGAPORE] CapitaLand Ascendas Reit (Clar) is divesting a logistics property in Australia for S$90 million.
The single-storey property, which is located 22 km from Brisbane’s Central Business District, has a gross floor area of 41,318 square metres.
The sale consideration is a 17.2 per cent premium to the original purchase price of S$76.8 million, when the property was acquired in October 2015.
It also represents a premium of 9.5 per cent over the independent market valuation of around S$82.2 million as at Sep 30, 2025, said the the manager of the real estate investment trust (Reit) on Tuesday (Nov 11).
William Tay, the chief executive officer of the manager, said that Clar’s ongoing divestments, taken together with three others completed earlier this year, amounted to S$498 million in FY2025 and underscores Clar’s “disciplined capital recycling strategy to maintain financial flexibility and liquidity for accretive investment opportunities”.
The net proceeds from the proposed divestment is expected to be S$83.4 million. The proceeds may be utilised for various purposes, including financing committed investments, paying down debt, extending loans to subsidiaries, funding general corporate and working capital needs, or making distributions to unitholders, said the manager.
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The proposed divestment is not expected to have any material impact on Clar’s net asset value and distribution per unit for FY2025.
The divestment is expected to be completed in Q4 2025.
Units of Clar closed at S$2.84 on Tuesday, up 0.7 per cent or S$0.02, before the announcement.
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