CapitaLand Ascendas REIT is acquiring a data centre and a business park in Singapore, for S$700.2 million:

The two properties are a Tier III colocation data centre at 9 Tai Seng Drive and a premium business space property at 5 Science Park Drive.

With a purchase consideration of around S$700.2 million, the proposed acquisitions will raise the value of Clar’s Singapore portfolio by 6.6 per cent to around S$11.7 billion. The Singapore portfolio will account for 67 per cent of its total assets under management (AUM) of S$17.6 billion.

To finance the operation, the trust has realized a private placement of S$500 million at S$2.47 per new share:

The price is a discount of 5.2 per cent of the volume weighted average price (VWAP) of S$2.6059 on Tuesday (May 27), its last traded closing price. Trading in the counter resumes on Thursday.