CapitaLand China Trust (CLCT) is raising up to SGD150 million (USD110 million) to partially fund the acquisition of four logistics assets across China.
The amount is being raised via a private placement exercise to mostly institutional and accredited investors, the REIT announced on 12 October.
CLCT announced on the same day that it is acquiring four logistics assets in Shanghai, Kunshan, Wuhan and Chengdu from unrelated third parties.
The acquisition marks CLCT’s first foray into China’s logistics sector and follows the REIT’s maiden purchase of a portfolio of five business park properties.
The REIT was previously a retail-focused REIT, but is now diversifying its portfolio in line with an expansion in its investment mandate in September 2020.
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