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CapitaLand Ascendas REIT to Acquire Logistics Property in Singapore for SG$134 Million

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CapitaLand Ascendas REIT (SGX:A17U) has agreed to acquire 5 Tuas Avenue 5 in Singapore for SG$133.9 million from Hup Hin Transport Co, according to a local bourse filing on Thursday.

The asset is a seven-story, ramp-up logistics property that was completed in 2021. It is currently fully occupied by four tenants, including the seller. It will have a weighted average lease expiry of five years with an annual rental escalation of 2%.

The acquisition is expected to be completed by the second half of 2026, after which CapitaLand Ascendas' logistics portfolio across Singapore, Australia, the US, the UK, and Europe will increase to around SG$4.9 billion.

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