Singapore-listed Ascendas Real Estate Investment Trust, better known as A-Reit, late Thursday raised S$400 million $317 million from a placement of new units. The money will be partly used to fund its two latest acquisitions, partly to cover planned enhancements to its existing properties and to fund the construction of a built-to-suit logistics facility.
The most recent acquisition two seven-storey science park buildings located in Singapore’s biomedical research hub Biopolis was announced after the market closed on Wednesday and will cost A-Reit S$125.6 million. The addition of the Neuros Immunos properties to its portfolio will be marginally accretive straight off the acquisition would have added 0.03 Singapore cents to...
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