A-Reit to buy 3 Science Park buildings for S$420m

Singapore

ASCENDAS Real Estate Investment Trust (A-Reit) plans to acquire the DSO National Laboratories buildings and DNV GL Technology Centre at Science Park Drive for S$420 million in cash and equity, the manager of the business space and industrial property trust said on Monday.

Of the purchase consideration, S$100 million will be paid in new units of A-Reit, the pricing of which will be based on the 10-day volume-weighted average price of the trust after an advanced distribution has gone ex. Either the buyer or seller, however, may opt for an all-cash settlement.