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Ascendas REIT divests three Australian logistics properties for $129 mil

Atiqah Mokhtar
Atiqah Mokhtar6/3/2021 6:5 PM GMT+08  • 2 min read
Ascendas REIT divests three Australian logistics properties for $129 mil
The proposed divestments are expected to complete by 3Q21.
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Photo: Ascendas REIT

The manager of Ascendas REIT (A-REIT) has on June 3 entered into two separate agreements for the sale of two logistics properties located in Brisbane and one logistics property in Melbourne for a total sale price of A$125.1 million ($128.7 million).

The manager states that the divestments are in line with its asset management strategy to improve the quality of the REIT’s portfolio and optimise returns for unitholders.

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