#AscendasReit, Singapore’s largest business space & industrial #REIT, is acquiring the remaining 75% equity stake in Galaxis for S$534.4 million. Galaxis is a BCA Green Mark Platinum building at Singapore’s one-north and enjoys a high occupancy rate of 98.6% from tenants including SEA, Canon and Oracle. Commenting on the DPU accretive #acquisition, Mr William Tay, Executive Director and CEO of the Manager: “Following the acquisition of our initial 25% interest in Galaxis in March 2020, this proposed acquisition will allow Ascendas Reit to have full ownership of the property. It will enlarge the business and science park portfolio in Singapore by 18% to S$4.9 billion and increase the number of properties we have in the vibrant one-north business park to five." More on the #deal: bit.ly/AreitGalaxis21Fb #invest #AReit #SREIT #realestate #businessparks #Singapore #onenorth
Posted 1 week ago
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