CapitaLand Ascendas REIT to acquire two Singapore properties for $544m.

CapitaLand Ascendas REIT, a listed business space and industrial real estate investment trust, agreed to acquire two Singapore properties including 9 Tai Seng Drive, a Tier III colocation data centre in Singapore, and 5 Science Park Drive, a business space property, for $544m. “The acquisitions of 9 Tai Seng Drive and 5 Science Park Drive further anchor CLAR in Singapore, which stands as the cornerstone of CLAR’s multi-asset portfolio in matured, developed markets. These strategic additions will increase the share of Singapore in CLAR’s portfolio to approximately 67% of total assets under management," William Tay, CapitaLand Ascendas REIT Management Executive Director and CEO.