Ascendas REIT divests 3 logistics properties in Australia

Proceeds of the divestments are at $128.7m.

Ascendas Reit has completed the divestments of three logistics properties in Australia, one in Melbourne and two in Brisbaine.

The Melbourne property was sold at $24.2, whilst the Brisbane properties went for a total of $104.5m.

Proceeds may go to funding committed investments, general corporate needs, and working capital needs. It may also be used to repay existing loans and extend loans to subsidiaries.

Following the divestments, Ascendas REIT owns 96 properties in Singapore, 34 in Australia, 30 in the USA, and 49 in Europe.

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