CapitaLand Ascendas REIT to divest three Australian logistics properties for $64.2 mil

The overall sale consideration for the 3 real estates is equal to $64.2 million (A$ 73.0 million) and represents a fee of 6.2% over the overall market evaluation of the estates of $60.4 million as at Aug 31.

Presuming the proposed divestment had definitely been performed 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 have resulted in a decrease of $3.9 million and 4 cents, specifically.

The executive of CapitaLand Ascendas REIT (CLAR) has already announced the proposed divestment of 3 logistics properties in Queensland, Australia on Dec 20.

Klimt Cairnhill Low Keng Huat

Units in CLAR closed 1 cent much lower of 0.34% descending at $2.92 on Dec 20.

Adhering to the conclusion, CLAR will have 228 real properties comprising 97 real estates in Singapore, 33 properties in Australia, 48 properties in the USA and 50 real properties in the UK and Europe.

The suggested divestment, in which CLAR claims adjusts with its aggressive asset management strategy to enhance the quality of its portfolio and optimize returns for unitholders, is anticipated to be completed in the very first quarter of 2024.

Following taking off divestment costs, remaining profits from the sale are projected to remain $60.8 million and can be utilized for various functions consisting of funding committed financial investments, repaying current financial debts, extending credits to subsidiaries, funding basic corporate and working capital needs and making dispersals to unitholders.

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