CapitaLand Ascendas REIT (CLAR) has announced the acquisition of two assets in Singapore and a significant stake in a data centre in Japan, totalling S$1.4b. The acquisitions include a 100% interest in 25 Loyang Crescent for S$504.2m and a 50% interest in Ascent at 2 Science Park Drive for S$245m. Additionally, CLAR is entering the Japanese market with a 49% interest in a Tier III hyperscale data centre in Greater Osaka for S$620.7m.
These strategic acquisitions are part of CLAR’s portfolio rejuvenation strategy, aimed at enhancing earnings resilience and portfolio quality. The acquisitions are expected to be distribution per unit (DPU)-accretive, with a projected increase of approximately 0.318 Singapore cents or 2.1% if completed by 1 January 2025.
William Tay, CEO of CapitaLand Ascendas REIT Management Limited, stated, “These three new accretive acquisitions reaffirm our commitment to build a high quality and resilient CLAR portfolio.” He highlighted the expansion into Japan as a strategic move to diversify CLAR’s global data centre portfolio.
The acquisitions will increase CLAR’s assets under management in Singapore to approximately S$13.2b, maintaining a Singapore-centric portfolio with 66% of its total AUM in the country. The entry into Japan marks a significant step into a market with robust data centre demand, driven by AI investments and cloud expansion.
The total acquisition outlay is expected to be S$1,410.3m, with financing partially through an equity fundraising. The acquisition of Ascent was completed on 23 March 2026, with the remaining acquisitions expected in the second and third quarters of 2026.
