CapitaLand Ascendas REIT to divest three Australian logistics properties for $64.2 mil
The executive of CapitaLand Ascendas REIT (CLAR) has recently announced the suggested divestment of 3 logistics estates in Queensland, Australia on Dec 20.
After taking off divestment costs, remaining proceeds from the purchase are expected to get $60.8 million and can be used for various uses featuring financing committed financial investments, paying back existing financial debts, expanding loans to subsidiaries, funding basic corporate and working capital demands and making dispersals to unitholders.
Units in CLAR finalized 1 cent lesser of 0.34% declining at $2.92 on Dec 20.
Assuming the proposed divestment had definitely been completed on Jan 1, 2022, the proforma effect on CLAR’s net property income (NPI) and distribution per unit (DPU) for the FY2022 finished Dec 31, 2022, would certainly have led to a decrease of $3.9 million and 4 cents, each.
The proposed divestment, that CLAR states adjusts with its proactive possession monitoring method to improve the condition of its profile and optimise gains for unitholders, is expected to be completed in the very first quarter of 2024.
Complying with the conclusion, CLAR will certainly have 228 assets making up 97 real estates in Singapore, 33 real properties in Australia, 48 real estates in the United States and 50 properties in the UK and Europe.
The total sale point to consider for the 3 commercial properties totals up to $64.2 million (A$ 73.0 million) and represents a fee of 6.2% over the overall market evaluation of the properties of $60.4 million as at Aug 31.
