CapitaLand Ascendas REIT (CLAR) has bought a US logistics asset from global logistics group DHL in a S$94.5m (鈧�81m) sale-and-leaseback deal.
The DHL Canal Winchester asset, currently under construction in Columbus, Ohio, represents CLAR鈥檚 second US transaction with DHL.
DHL will lease back the facility under a long-term lease until December 2030 with options to renew for two additional five-year terms.
William Tay, executive director and CEO of the manager, CapitaLand Ascendas REIT Management, said: 鈥淭he accretive acquisition underscores our strategy of selectively investing in logistics growth markets in the US with excellent connectivity and deep occupier demand.鈥�
The trust鈥檚 portfolio includes logistics assets in the Midwest cities of Chicago, Kansas City and Indianapolis.
Tay said the latest transaction follows a structure similar to the DHL Indianapolis Logistics Centre acquisition, which closed in January last year.
鈥淒HL Canal Winchester will strengthen CLAR鈥檚 resilient income with its long-term lease and built-in annual rental escalations, which is expected to further enhance the quality and stability of our US logistics portfolio.鈥�
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