CapitaLand Ascendas REIT to buy industrial, data centre assets in Singapore, Japan for $1.1 billion

CapitaLand Ascendas REIT

24/03/2026 02:36

Corrects typographical error in paragraph 1

March 24 (Reuters) - Singapore's CapitaLand Ascendas REIT CAPD.SI said on Tuesday it will buy interests in three assets in Singapore and Japan for S$1.41 billion ($1.10 billion), including fees and expenses, as it aims to bolster its income base and diversify its portfolio.

Here are some details:

The acquisitions include a 100% stake in 25 Loyang Crescent, a logistics and industrial asset in Singapore, for S$504.2 million, and a 50% stake in Ascent, a business space property, for S$245 million.

A global sovereign wealth fund will own the remaining 50% of Ascent.

The real estate investment trust will also enter Japan through the purchase of a 49% stake in a Tier III hyperscale data centre in Greater Osaka for S$620.7 million.

A fund managed by a unit of Japanese conglomerate Mitsui & Co 8031.T will hold the remaining 51%.

Following the transactions, the REIT's Singapore assets under management will rise to about S$13.2 billion, representing roughly 66% of its enlarged portfolio value of S$19.9 billion.

The Osaka data centre marks the REIT's first investment in Japan and is aimed at capturing growth in one of Asia-Pacific's largest and fastest-growing data centre markets, driven by demand for artificial intelligence and cloud-computing infra.

Separately, CapitaLand Ascendas REIT proposed to launch an equity fund raising to secure gross proceeds of at least around S$900 million, which will be used to partially finance acquisitions, including the assets in Singapore and Japan.

($1 = S$1.2783)

 (Reporting by Roshan Thomas in Bengaluru, additional reporting by Nikita Maria Jino; Editing by Sumana Nandy)

 ((Roshan.Thomas@thomsonreuters.com;))