CapitaLand’s new acquisitions to boost its funds under management in SEA to $1.2b

Two of the four acquisitions are industrial properties in Singapore.

CapitaLand Investment (CLI) will acquire four assets in Southeast Asia, boosting its funds under management (FUM) in the region to $1.2b.

In a bourse filing, CLI acquired two industrial properties in Singapore through Extra Space Asia, the Asia-focused self-storage platform it manages. It also acquired OMEGA 1 Bang Na, a 20-hectare freehold greenfield site in Bangkok, Thailand, through its CapitaLand SEA Logistics Fund.

In January, the CapitaLand Wellness Fund completed the joint acquisition of a freehold lodging property in Singapore.

“Upon the completion of the development of OMEGA 1 Bang Na, the total investment value of these four acquisitions will be approximately $700m, boosting CLI’s funds under management in the region to $1.2b,” CLI announced.

Meanwhile, CLI also announced the close of a new logistics private fund in Japan.

“The close-ended fund will grow CLI’s fund under management by $154.8m (JPY16.5b). The fund attracted several prominent institutional capital partners in Japan and has been fully deployed to acquire two freehold and green-certified logistics assets located in
Greater Tokyo and Osaka from CLI and its joint venture partner," CLI said.

"CLI holds a minority stake in the fund and will continue to serve as the asset manager of the two logistics properties,” it added.