Singaporean real estate investment trust Ascendas has acquired a portfolio of 12 logistics properties located in the UK as it plans to widen its international presence.
The purchase consideration for the proposed acquisition is estimated to be approximately 200 million pounds ($254.3 million).
Subject to post-completion adjustments, the acquisition is expected to be completed in the third quarter of 2018.
Following the completion, Ascendas Reit will own 99 properties in Singapore, 33 properties in Australia and 12 properties in the UK.