CapitaLand Ascendas REIT to divest three Australian logistics properties – Jalan Loyang Besar EC included – for $64.2 mil

For those looking to invest in this recently launched Jalan Loyang Besar EC, they can enjoy a wide range of facilities that secluded estate has to offer. These include a lap pool, indoor gym, bbq pits, and a playground. All these are conveniently located within the estate itself and are well-maintained so as to enhance residents’ living experience. Beyond the estate, excellent amenities such as shopping centers, food courts, and parks can be found in the nearby areas.

Not only is an executive condominium a financially rewarding investment, but even more so for Jalan Loyang Besar EC due to its key attributes. It offers an ideal lifestyle choice for those seeking to invest in a quality home in a desirable residential area.

CLAR has announced the proposed divestment of three logistics properties in Queensland, Australia on Dec 20. The total sale consideration amounts to $64.2 million (A$73.0 million) and represents a premium of 6.2% over the total market valuation of the properties of $60.4 million as at Aug 31. Jalan Loyang Besar EC Net proceeds from the sale are expected to be $60.8 million and this could be utilised for various purposes, including financing committed investments, repaying existing debts, extending loans to subsidiaries, funding general corporate and working capital needs, and making distributions to unitholders.The divestment, which is said to align with CLAR’s proactive asset management strategy, is expected to be completed in the first quarter of 2024. Upon Jalan Loyang Besar EC completion, CLAR will own 228 properties comprising 97 in Singapore, 33 in Australia, 48 in the United States, and 50 in the United Kingdom and Europe. Assuming the divestment were to take place on Jan 1, 2022, it is estimated to result in a decrease of $3.9 million and 4 cents in CLAR’s net property income (NPI) and distribution per unit (DPU), respectively for the FY2022 ended Dec 31, 2022.Units in CLAR closed 1 cent lower of 0.34% down at $2.92 on Dec 20.The manager of CapitaLand Ascendas REIT (CLAR) has today announced its proposed divestment of three logistics properties in Queensland, Australia. At a total sale consideration of A$73.0 million (representing a premium of 6.2% over the total market valuation of $60.4 million as at Aug 31) the net proceeds are expected to be $60.8 million.Jalan Loyang Besar EC These could be used for financing committed investments, repaying existing debts, extending loans to subsidiaries, funding general corporate and working capital needs, and making distributions to unitholders.The proposed divestment will be implemented following CLAR’s proactive asset management strategy to improve the portfolio quality and optimise returns for unitholders. The completion is estimated for the first quarter of 2024. Afterward, CLAR will own a total of 228 properties, which are situated in Singapore, Australia, the United States, and the United Kingdom and Europe.On potential impact of the proposed divestment, if it were completed on Jan 1, 2022, it is estimated to result in a decrease of $3.9 million and 4 cents in CLAR’s net property income (NPI) and distribution per unit (DPU), respectively for the FY2022 ended Dec 31, 2022.Jalan Loyang Besar EC Unitholders should take note of this and be mindful of their investments as CLAR units closed 1 cent lower at $2.92 on Dec 20.