Ascendas REIT property in Changi Business Park, Singapore.Ascendas REIT property in Changi Business Park, Singapore.

US-based wealth management firm BlackRock Inc. has acquired 9,613,400 units of Singapore-listed industrial REIT Ascendas (SGX:A17U) through its various subsidiaries, the company disclosed on 23 March.

The units were acquired via a market transaction on 20 March for a total aggregate sum of SGD24.99 million, which translates to about SGD2.60 paid per unit. REITsWeek understands that the units were acquired on behalf of BlackRock’s wealth management clients.

BlackRock describes itself as the world's largest asset manager that provides guidance to individuals, financial professionals and institutions.

The acquisition has brought BlackRock’s total holdings in CMT to 145,598,232 units, representing a stake of 6.05% in the security. This is up from 135,984,832 units or a stake of 5.65% previously.

Units of Ascendas REIT are currently listed on the Singapore Exchange at SGD2.56.

Ascendas REIT property in Changi Business Park, Singapore.
Ascendas REIT property in Changi Business Park, Singapore.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.