Shortly after Ascendas REIT (SGX: A17U) has posted their FY2020 results, they’ve gone shopping yet again, now in Europe. With the REIT’s huge debt headroom and the recent Equity Fund Raising, they managed to acquire the S$960m portfolio of Data Centres through a mixture of equity and debt. Let’s take a deep dive into this acquisition and its key highlights. Acquisition Overview Taking a look into the acquisition overview, the portfolio being acquired consists of 11 Data Centres, 4 in the UK while 7 are in Netherlands/France/Switzerland. The total portfolio is last valued at S$905m and will be acquired at S$904.6m. The total acquisition cost including fees comes up to S$960m. An interesting point is that this portfolio is bought over from subsidiaries of Digital Realty Trust, a very well-known Data Centre REIT listed in the US. This gives me a boost of confidence as Digital Realty Trust holds very strong assets across its portfolio....