CapitaLand Ascendas REIT (CLAR) has entered the Spanish market with the purchase of six industrial assets for approximately S$185.4m (鈧�124m).
The 98,825sqm logistics portfolio comprises two grade A logistics assets in Madrid and four others in Barcelona.
William Tay, executive director and CEO of CapitaLand Ascendas REIT Management, CLAR鈥檚 manager, said: 鈥淥ur first acquisition in Spain deepens CLAR鈥檚 presence in Europe and enhances the scale, quality and geographic diversification of our logistics portfolio.
鈥淐LAR鈥檚 logistics assets now span five countries with a total value of approximately S$4.7bn. The acquisition aligns with our disciplined investment strategy of acquiring modern, well-located assets in developed markets with healthy fundamentals. The six prime Grade A assets are situated along major highways and primary transport corridors with superior accessibility, and are fully occupied by reputable companies, underscoring the quality of the portfolio.鈥�
CLAR said Spain鈥檚 strategic location and good infrastructure served as a gateway to Europe. And its central geographic position between Latin America and Asia, coupled with increasing flight connections, was key to Madrid鈥檚 consolidation as an international air cargo hub.
Post-settlement, the Singapore trust will own S$18.5bn - an increase from 24% as at 31 December 2025 鈥� worth of logistics properties located in Singapore, Australia, the US and Europe.
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