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Ascendas REIT gets a lift as it eyes maiden entry into US market

Stanislaus Jude Chan
Stanislaus Jude Chan11/4/2019 01:04 PM GMT+08  • 3 min read
Ascendas REIT gets a lift as it eyes maiden entry into US market
SINGAPORE (Nov 4): OCBC Investment Research is keeping it’s “hold” call but raising its fair value estimate for Ascendas Real Estate Investment Trust by over 9% to $3.25 on the back of strong long-term prospects from an enlarged scale.
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SINGAPORE (Nov 4): OCBC Investment Research is keeping it’s “hold” call but raising its fair value estimate for Ascendas Real Estate Investment Trust by over 9% to $3.25 on the back of strong long-term prospects from an enlarged scale.

Already the largest listed industrial REIT on the Singapore Exchange based on asset size and market capitalisation, Ascendas REIT on Nov 1 announced the proposed acquisition of a portfolio of 30 business park properties from CapitaLand for $1.66 billion.

Post-transaction costs, the proposed acquisitions are expected to generate a first year net property income yield of 6.3% for Ascendas REIT.

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