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Ascendas REIT is acquiring a portfolio of 11 logistics properties across Kansas City, USA for USD156 million.

The 11 properties are located on freehold land, and range between 6,800 and 32,337 square metres in size.

It is 92.6% occupied by 27 tenants from industries such as third-party logistics, wholesale distribution, manufacturing and healthcare.

No single customer contributes to more than 10% of the total rental income as at 30 September 2021 of the portfolio and thus minimising tenant concentration risk, said Ascendas REIT.

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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.