Following the private placement by MINT to acquire the remaining 60% of its first US Data Centre portfolio, other REITs with strong balance sheets made moves recently. Ascendas REIT AREIT announced the acquisition of a yet-to-be-built logistics property in Sydney today (1 Jul 2020) for A$23.5m. The property will be developed by the Vendor and completed by 2Q2021. In the press release, AREIT mentioned that it managed to acquire the property at an almost 20% discount to its 'as if complete' valuation and this implies a 1st year NPI yield of 6.2%/5.8% pre and post-transaction costs. With a huge portfolio across Singapore, Australia and the UK, this acquisition barely moves the needle although AREIT says it is accretive to DPU. To unitholders, the REIT is also taking on development risk as the property is uncompleted and does not have a tenant. To mitigate this risk slightly, the Vendor is providing a 9.5months rental guarantee....