Singapore REIT Ascendas Drops $140M On 2 Properties

Law360, New York (December 8, 2011, 1:38 PM EST) -- Singapore real estate investment trust manager Ascendas Funds Management Ltd. has acquired two industrial properties in Singapore for $139.8 million, it announced Thursday.

Through the Ascendas Real Estate Investment Trust, the company said it had purchased the Corporation Place building for $77.3 million and 3 Changi Business Park Vista for $52.5 million. Ascendas said it would incur a combined transaction cost of roughly $1.7 million.

Additional transaction information, including the sellers of the two properties was not available. An Ascendas representative was not immediately available for...
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