Ascendas Reit completes £253.25m acquisition of 26 logistics properties in the UK

ASCENDAS Reit said on Thursday evening that it has completed its £253.25 million (S$451.67 million) acquisition of 26 logistics properties in the UK.

Following the acquisition, Ascendas Management (UK) Ltd, a wholly owned subsidiary of Ascendas Investment Pte Ltd, was appointed as the asset manager of the properties for a term of about four years till Sept 30, 2022.

The acquisition was fully funded by a combination of sterling-denominated debt and proceeds from equity fund raising. Professional fees, insurance premiums, and other fees and expenses incurred by Ascendas Reit amount to about £4.23 million.