US-based wealth management firm BlackRock Inc. has indirectly acquired 222,900 units of Singapore-listed industrial REIT Ascendas (SGX:A17U) through various subsidiaries, the company disclosed on 7 December.

The units were acquired via an open market transaction on 3 December for a total aggregate sum of SGD563,106 which translates to about SGD2.40 paid per unit. The units were likely to have been 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 deemed holdings in Ascendas REIT to 144,755,156 units, representing a stake of 6.0% in the security. This is up from 144,532,256 units or a stake of 5.9% previously.

Units of Ascendas REIT are currently listed on the Singapore Exchange at SGD2.35.