The manager of CapitaLand Ascendas REIT (CLAR) has announced the completion of the acquisition of the data centre at 9 Tai Seng Drive.
The REIT has used 55.1% of gross proceeds of its $500 million private placement to fund the proposed acquisition. The amount of proceeds used is about $275.5 million.
Last week, the REIT announced that it used $137.1 million of gross proceeds from the $500 million private placement to partially finance the proposed acquisition of the property at 5 Science Park Drive.
The remaining $81.6 million of gross proceeds will be used for debt repayment purposes and $5.0 million to pay the estimated fees and expenses in relation to the private placement.
The REIT has a balance of $800,000 that has not yet been utilised, however as at the date of announcement, the manager says that it has re-allocated and utilised the aggregate balance of to partially finance the proposed acquisition in the property 9 Tai Seng Drive.
Units in CLAR closed 2 cents lower or 0.735% down at $2.70 on Aug 11.
