CapitaLand Ascendas REIT (SGX:A17U) completed the acquisition of a parcel of land at 178 and 179 Quality Drive in South Carolina, US, for the development of a logistics property named, Summerville Logistics Centre, according to a filing with the Singapore Exchange on Friday.
The total investment cost of the property is around SG$94.8 million and will expand the REIT's footprint in the region.
The land will be acquired from Summerville Logistics Centre Owner which is indirectly wholly-owned by PTLI Summerville Member which will develop the property.
The development of the property is expected to finish by the fourth quarter of 2025.
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