Ascendas REIT to acquire a cold storage logistics facility located at 1 Buroh Lane, Singapore for $137m.

Ascendas REIT, Singapore's first and largest listed business space and industrial Real Estate Investment Trust, agreed to acquire a cold storage logistics facility located at 1 Buroh Lane, Singapore for $137m. "This is our first cold storage facility investment in Singapore. This modern Grade-A 5-storey ramp-up logistics facility is one of the best cold storage facilities in Singapore. Featuring a good combination of chiller, freezer and ambient storage spaces, it caters to a diverse food and beverage storage requirements. We are confident to achieve good rental growth due to the limited supply and strong demand for this type of facilities," William Tay, Ascendas Executive Director and CEO.