CapitaLand Ascendas Reit to acquire DHL's Indiana logistics property in $150m deal

CapitaLand Ascendas Reit (Clar) is proposing to acquire logistics property DHL Indianapolis Logistics Centre in Whiteland, Indianapolis, Indiana, for $150.3 million from DHL USA.

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The completion of the deal is slated for the first quarter of 2025.

Following this, DHL USA will enter a long-term leaseback of about 11 years till December 2035 of the property's entire gross floor area (GFA) of about 979,649 sq ft.

The agreement will come with options to renew for two additional five-year terms.

On Dec 17, Clar's manager said this would represent the real estate investment trust's (Reit) first sale-and-leaseback acquisition in the US.

Its executive director and chief executive William Tay said the acquisition would increase Clar's US logistics portfolio value by 35.3 per cent to $587.5 million, with a total estimated GFA of 5.1 million sq ft.