SINGAPUR (dpa-AFX) - CapitaLand Ascendas REIT (A17U.SI, ACDSF), on Tuesday, announced the proposed divestment of 95 Gilmore Road, a logistics property in Queensland, for approximately S$90 million or A$101.8 million.
The completion is expected in the fourth quarter of 2025.
The sale is agreed on a willing-buyer and willing-seller basis, represents a 9.5% premium over the independent market valuation of S$82.2 million or A$93.0 million as of September 30, and a 17.2% premium to the original purchase price of S$76.8 million or A$76.8 million from October 2015.
The company mentioned that the estimated net proceeds after divestment costs are S$83.4 million or A$94.3 million.
The company said that the proceeds may be used for financing committed investments, repaying debt, funding working capital, or making distributions to unitholders.
If applied to debt repayment, the company's pro forma aggregate leverage would fall to 39.5% from 39.8% as of September 30.
The transaction is not expected to materially affect net asset value or distribution per unit for the full year 2025 and would have reduced full year 2024 net property income by S$4.3 million on a pro forma basis.
CapitaLand Ascendas closed trading 0.71% higher at SGD 2.8400 on the Exchange of Singapore.
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