CapitaLand Investment acquires three properties in Singapore and Thailand
The commercial properties are attained by Extra Space Asia (ESA), the Asia-focused self-storage channel supervised by CLI, whereas the 20-hectare freehold greenfield location OMEGA 1 Bang Na in Bangkok is gained by CapitaLand SEA Logistics Fund (CSLF).
ESA is readied to increase its portfolio in Singapore with about 320,000 sq ft in gross floor spot by the end of 1Q2024. Upon achievement of the purchases, ESA plans to switch both assets right into self-storage facilities in stages, supplying cool units and establishments for wine storage.
CapitaLand Investment (CLI) has recently acquired two industrial real properties in Singapore and a property greenfield area in Bangkok, Thailand.
At the same time, OMEGA 1 Bang Na is CLI’s primary logistics commercial property in Thailand. As a built-to-suit undertaking, CSLF is going to create a state-of-the-art automated logistics campus with a gross floor space of 2.47 million sq ft, capable of fitting over 150,000 pallet settings in an automated storage and access system.
“By combining our capability of value development with best-in-class running abilities and drawing on the sector-specific market understanding of our capital affiliates and operators, these budget are poised to contribute positively to our fee-related incomes and deliver lasting returns to our clients,” she adds in.
Looking ahead, these most recent acquisitions are set to feed the next phase of growth for each of these CLI-managed funds, mentions CLI Southeast Asia Investment Chief Executive Officer Patricia Goh.
Ready to be Thailand’s greatest standalone storehouse, the current ramp-up campus are going to be run by Ally Logistic Property when completed. Development is set up to get started in 1H2024, with stage one anticipated to be concluded in 2026.
The sales adhere to CapitaLand Wellness Fund’s fulfillment of the mutual acquisition of an estate lodging real estate in Singapore previous month. Upon the finish of the project of OMEGA 1 Bang Na, the total financial investment market value of these 4 acquisitions will be about $700 million, bringing CLI’s budget following supervision in the region to $1.2 billion.
