Ascendas REIT's property at 9 Changi South Street 3, Singapore. (Photo: REITsWeek)

BlackRock’s deemed interest in Ascendas REIT has decreased by 4,552,223 units, the global investment management firm disclosed on 2 February.

The reduction came about as a result of collateral movement by a subsidiary that it has indirect control over, and was effected on 31 January, according to disclosure documents filed by BlackRock.

As a result of the reduction, BlackRock’s deemed stake in Ascendas REIT has now decreased to 168.8 million units representing a stake of 5.86%, down from 173.4 million units or a stake of 6.02% previously.

Ascendas REIT is a Singapore-listed industrial REIT with a portfolio of 129 properties across the republic and Australia, featuring a total book value of about SGD9.7 billion (USD6.9 billion).

Units of Ascendas REIT finished the trading day about 2.4% lower from its previous close on the Singapore Exchange to end at SGD2.42.

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.