CapitaLand Ascendas REIT to divest three Australian logistics properties for $64.2 mil

Presuming the suggested divestment had been finished on Jan 1, 2022, the proforma influence on CLAR’s net property income (NPI) and distribution per unit (DPU) for the FY2022 ended Dec 31, 2022, will have resulted in a decrease of $3.9 million and 4 cents, respectively.

The manager of CapitaLand Ascendas REIT (CLAR) has recently revealed the suggested divestment of three logistics properties in Queensland, Australia on Dec 20.

Units in CLAR closed 1 cent lower of 0.34% descending at $2.92 on Dec 20.

The proposed divestment, in which CLAR says adjusts with its aggressive asset monitoring strategy to improve the class of its portfolio and optimise returns for unitholders, is expected to be completed in the very first quarter of 2024.

Following subtracting divestment costs, net profits from the revenue are expected to be $60.8 million and might be used for different purposes including funding focused assets, settling present financial debts, expanding loans to subsidiaries, paying for general corporate and business assets needs and making dispersals to unitholders.

Lentor Mansion Singapore

Adhering to the conclusion, CLAR will certainly own 228 assets comprising 97 real estates in Singapore, 33 real properties in Australia, 48 properties in the United States and 50 properties in the United Kingdom and Europe.

The full sale consideration for the 3 buildings is equal to $64.2 million (A$ 73.0 million) and stands for a premium of 6.2% over the overall market valuation of the estates of $60.4 million as at Aug 31.


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