Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil

William Tay presumes that the portfolio of homes has a lengthy weighted ordinary rental expiration of 5 years along with is completely hired to twelve tenants. The occupants include logistics provider, engineering business, and also a food vendor.

Irwell Hill Residence price

Ascendas REIT will most likely acquire a portfolio of seven logistics residential properties in Chicago, Illinois, in the United States. The REIT’s manager, Asendas Funds Supervision, released that the overall investment factor for the accounts is $133.2 million.

“Copying our outstanding opening into the US logistics industry in November 2021, we are pleased to attain another portfolio making up seven logistics residences in Chicago, the major industrial industry in the nation founded on remaining area,” says Tay, executive director as well as chief executive officer of the REIT supervisor.

The portfolio is being collectively marketed by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and Icon Pac Owner Pool 4 Northeast/Midwest.

According to an independent appraisal by HSBC Institutional Trust Services (Singapore), the portfolio had an accumulated market value of $140.5 million as of March 29.

The procurement is expected to be accomplished by 2Q2022.

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