CapitaLand Ascendas REIT (SGX:A17U) completed the acquisition of DHL Indianapolis Logistics Center through indirectly wholly owned subsidiary, Ascendas Reit Indiana 1 LLC, according to a filing with the Singapore Exchange on Wednesday.
In an earlier filing, the REIT had agreed to acquire DHL Indianapolis Logistics Center for SG$150.3 million from Excel Inc., expanding its US logistics portfolio.
The class A logistics property is located in Indiana, US, which will account for 42.3% of the REIT's US logistics assets under management.
The single-story logistics building has a gross floor area of 979,649 square feet and a weighted average lease expiry of around 11 years.
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