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Ascendas REIT just acquired two science park properties. What does it mean for unitholders?

Gwyneth Yeo Published on Tue, Dec 06, 2016 / 1:03 PM GMT+8

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SINGAPORE (Dec 6): Ascendas REIT is acquiring two properties located along Science Park Drive for $437.5 million from its sponsor Ascendas Land.

(See also: Ascendas REIT to acquire 12, 14 and 16 Science Park Drive for $420 mil)

The two buildings, DSO National Laboratories and DNV GL Technology Centre, are fully tenanted with a weighted average lease expiry of 16.5 years. They were completed recently and have remaining land tenure of 64.7 years.

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