Ascendas REIT Buys 11 European Datacentres

News about Ascendas REIT

Ascendas REIT isn't done shopping for more assets as it announces the acquisition of 11 data centres in Europe from a subsidiary of Digital Realty Trust (a specialized REIT listed in the USA).

Assets

The purchased assets are 11 properties spread across the UK, France, the Netherlands and Switzerland:

  • 5 properties are leasehold (with an average lease expiry of 42.9 years) and 6 are freehold
  • A total of 61,637 m² of Net Lettable Area, with a 97.9% occupancy (spread over 14 customers) and a 4.6 years WALE
Financing

The S$960.0 million total cost will be internally funded through debt and cash (from the proceeds of the fund raising done last Decembre).

Expectations

The manager expects the acquisition to be yield accretive, increasing DPU by 1.3%.

Ascendas REIT
Price2.930 SGD
NAV2.200 SGD
Yield (4 quarters)5.01%
Gearing38.0%