Archive for category: Misc

CapitaLand Ascendas REIT (CLAR) has announced its plan to sell five of its industrial and logistics properties for a total sum of $329 million. This represents a premium of 6% over their total market value and is expected to generate net proceeds of approximately $313.1 million. The transaction was facilitated by CBRE.

In addition to the premium, CLAR is also fetching a significant 20% premium over the initial purchase price of $274.2 million for these properties. The buyers are unrelated third parties and the properties in question are located at 31 Ubi Road 1, 9 Changi South Street 3, 10 Toh Guan Road, 19 & 21 Pandan Avenue, as well as 30 Tampines Industrial Avenue 3.

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CLAR has stated that this move is in line with its proactive strategy to recycle capital, which will ultimately enhance the quality of its portfolio and increase returns for its unitholders. The proceeds from the divestment may be used for a variety of purposes including funding committed investments, paying off debts, extending loans to subsidiaries, and covering general corporate and working capital expenses. Distributions to unitholders may also be made.

After the transactions are completed, CLAR’s portfolio will consist of 226 properties, with 93 located in Singapore, 34 in Australia, 49 in the US, and 50 in the United Kingdom and Europe.

According to a pro forma analysis, if the net proceeds from the divestments were used to repay CLAR’s borrowings as of December 31, 2024, its overall leverage would decrease from 37.7% to approximately 36.6%.

The divestments are expected to be finalized by the end of the year. This follows a string of other divestments announced by CLAR in 2025, totaling $355.5 million. This includes the recent sale of Parkside, a business space property located in Portland, US, for $26.5 million.

This story first appeared in . RELATED NEWSCLAR expands logistics portfolio in UK for $350.1 milCapitaLand Ascendas REIT to acquire properties in Tai Seng and Science Park Drive for $700 milCLAR expands US logistics portfolio with first sale and leaseback acquisition for $150.3 million.