Ascendas REIT has announced the acquisition of a 25% stake in Galaxis, a business park in Singapore, for S$102.91 million. Located in the Fusionopolis area, the property has a 60,752 m² NLA (Net Lettable Area) and about 52 years left on its land lease. It was completed in 2015 and is currently 99.6% occupied.

Funding will be provided by debt and internal resources.