CapitaLand Ascendas Reit to acquire Seagate facility; proposes S$450 million private placement

CAPITALAND Ascendas Real Estate Investment Trust : A17U 0% (Clar) is planning to acquire a high-specification research and development (R&D) facility and business park property in the one-north district for S$218.2 million.

The acquisition of The Shugart from Seagate Singapore is expected to be distribution per unit (DPU) accretive to unitholders, said its manager on Tuesday (May 16).

Assuming the acquisition was completed on Jan 1, 2022, DPU would increase by 0.7 per cent or 0.11 Singapore cent.