CapitaLand Ascendas REIT to divest three Australian logistics properties for $64.2 mil
Adhering to the completion, CLAR will have 228 real properties comprising 97 properties in Singapore, 33 real estates in Australia, 48 real estates in the United States and 50 real properties in the UK and Europe.
After taking off divestment costs, remaining earnings from the revenue are projected to be $60.8 million and can be utilised for numerous purposes featuring financing committed financial investments, paying off present debts, expanding lendings to subsidiaries, paying for general corporate and business assets requirements and making allotments to unitholders.
The manager of CapitaLand Ascendas REIT (CLAR) has already declared the proposed divestment of three logistics real properties in Queensland, Australia on Dec 20.
The proposed divestment, in which CLAR claims aligns with its positive asset administration strategy to boost the class of its profile and optimize yields for unitholders, is assumed to be completed in the initial quarter of 2024.
Speculating the suggested divestment had definitely been completed on Jan 1, 2022, the proforma impact on CLAR’s net property income (NPI) and distribution per unit (DPU) for the FY2022 ended Dec 31, 2022, would have caused a decline of $3.9 million and 4 cents, each.
Units in CLAR closed 1 cent much lower of 0.34% dropping at $2.92 on Dec 20.
The overall sale factor to consider for the three buildings is equal to $64.2 million (A$ 73.0 million) and exemplifies a fee of 6.2% over the total market appraisal of the properties of $60.4 million as at Aug 31.
