CapitaLand Ascendas REIT is announcing the acquisition of a parcel of land and the development of a logistics property in Summerville, a submarket of Charleston, South Carolina, in the United States of America. The total estimated cost is cost of S$94.8 million.

On a pro forma basis, the property – Summerville Logistics Center – will increase the Reit's logistics assets under management in the US by 27.9 per cent to about S$434.1 million.