CapitaLand Ascendas REIT Management Limited has announced the divestment of five industrial and logistics properties in Singapore for S$329 million. The sale, expected to complete in Q4 2025, includes properties at 31 Ubi Road 1, 9 Changi South Street 3, 10 Toh Guan Road, 19 & 21 Pandan Avenue, and 30 Tampines Industrial Avenue 3. The transaction reflects a 6% premium over the properties’ market valuation of S$311.3 million and a 20% premium over their original purchase price of S$274.2 million.
The divestment aligns with CapitaLand Ascendas REIT’s (CLAR) proactive capital recycling strategy, aimed at enhancing portfolio quality and optimising returns for unitholders. The net proceeds, estimated at S$313.1 million, may be used for various purposes, including financing investments, debt repayment, and distributions to unitholders. If applied to debt repayment, CLAR’s aggregate leverage could decrease from 37.7% to approximately 36.6%.
Following the divestment, CLAR will own 226 properties globally, including 93 in Singapore. This move follows the recent sale of Parkside in Portland, US, for $19.3 million (S$26.5 million), which was completed in June 2025 at a 45% premium to its market valuation. To date, CLAR has announced divestments totalling S$355.5 million in 2025.
The properties being divested include a mix of industrial and logistics spaces with varying gross floor areas and lease tenures. The sale of 30 Tampines Industrial Avenue 3, currently unoccupied, was agreed at a 5% premium over its market valuation.
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