CapitaLand Ascendas REIT (CLAR) has announced the acquisition of a modern logistics property at 5 Tuas Avenue 5 in Singapore for S$133.9m. The purchase, made from Hup Hin Transport Co Pte Ltd, is expected to be distribution per unit (DPU)-accretive, enhancing CLAR’s income stream with a projected DPU accretion of 0.033 Singapore cents or 0.2%.
The property, completed in 2021, is a seven-storey ramp-up logistics facility with a gross floor area of 50,160 square metres. It features direct ramp access for large container lorries and boasts a 100% occupancy rate with a weighted average lease expiry of five years. The acquisition price represents a 1.5% discount to its independent market valuation of S$136 million as of 1 February 2026.
William Tay, CEO of CapitaLand Ascendas REIT Management Limited, highlighted the strategic significance of the acquisition, stating, “5 Tuas Avenue 5 will enhance our presence in western Singapore, benefiting from structural demand drivers, including the expansion of Tuas Mega Port.”
The acquisition is part of CLAR’s broader strategy to strengthen its logistics portfolio, which will now account for approximately 26.2% of its total portfolio value of S$18.7b. The total investment cost is estimated at S$136.5m, including acquisition fees and related expenses, to be financed through equity and debt.
The transaction is expected to be completed by the second half of 2026, further solidifying CLAR’s position in the logistics sector across Singapore, Australia, the US, and the UK/Europe.
