CapitaLand Ascendas REIT Divests Five Properties in Singapore

CapitaLand Ascendas REIT Management Limited, as the manager of CapitaLand Ascendas REIT (CLAR) on Monday said that the proposed divestments of five industrial and logistics properties in Singapore to unrelated third parties for a total sale consideration of $256.55 million.
The Properties are 31 Ubi Road 1, 9 Changi South Street 3, 10 Toh Guan Road and 19 & 21 Pandan Avenue, as well as 30 Tampines Industrial Avenue 3. The proposed divestments are in line with the Manager’s proactive capital recycling strategy to improve the quality of CLAR’s portfolio and optimise returns for unitholders of CLAR, Capitaland said.
The sale consideration represents a premium of approximately 6% over the total market valuation of the Properties of $242.75 million and a 20% premium to their total original purchase price of $213.82 million.
The estimated net proceeds after divestment costs are expected to be $244.15 million. The net proceeds may be utilised for various purposes, including financing committed investments, paying down debt, extending loans to subsidiaries, funding general corporate and working capital needs, and/or making distributions to unitholders.
For the purpose of calculating the pro forma impact on CLAR’s aggregate leverage, if the net proceeds were used to repay CLAR’s borrowings as at 31 December 2024, its aggregate leverage would have reduced from 37.7% to approximately 36.6%.
The proposed divestments are expected to be completed within the fourth quarter of 2025. Following the completion of the proposed divestments, CLAR will own 226 properties comprising 93 in Singapore, 34 in Australia, 49 in the US and 50 in the UK/Europe.
In accordance with the trust deed dated 9 October 2002 constituting CLAR (as amended, varied, and/or supplemented from time to time), Capitaland Ascendas is entitled to a divestment fee of 0.5% of the sale consideration of the Properties, which will be paid in cash.
The proposed divestments follow the sale of Parkside, a business space property in Portland, the US, for $20.66 million, which was completed in June 2025. The sale price of Parkside reflected a premium of approximately 45% to the market valuation of $14.23 million as at 31 December 2024. To date, CLAR has announced a total aggregate value of 277.21 million of divestments in 2025.

About CLAR
CapitaLand Ascendas REIT (CLAR) is Singapore’s first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in November 2002.
CLAR has since grown to be a global REIT anchored in Singapore, with a strong focus on tech and logistics properties in developed markets. As at 30 June 2025, its investment properties under management stood at $13.1 billion.
It owns a total of 229 properties across three segments – Business Space & Life Sciences; Industrial & Data Centres; and Logistics. These properties are in the developed markets of Singapore, the US, Australia and the UK/Europe.
These properties house a tenant base of approximately 1,790 international and local companies from a wide range of industries and activities, including data centres, information technology, engineering, logistics & supply chain management, biomedical sciences, financial services (backroom office support), electronics, government and other manufacturing and services industries.