CapitaLand Ascendas REIT Management Limited, as the manager of CapitaLand Ascendas REIT (CLAR), has plans to acquire 9 Tai Seng Drive, a Tier III colocation data center in Singapore, and 5 Science Park Drive, a premium business space property in Singapore.
The total purchase consideration for these acquisitions is approximately S$700.2 million ($544 million).
“The acquisitions of 9 Tai Seng Drive and 5 Science Park Drive further anchor CLAR in Singapore, which stands as the cornerstone of CLAR’s multi-asset portfolio in matured, developed markets. These strategic additions will increase the share of Singapore in CLAR’s portfolio to approximately 67 percent of total assets under management,” said William Tay, executive director and CEO of the manager.
“The two properties are 100 percent leased to reputable and well-established end users and tenants in the digital, ecommerce and financial services industries reflecting our commitment to steer CLAR’s po
