On 25 October 2024, CapitaLand Ascendas Real Estate Investment Trust (“CLAR”) have announced their third quarter business update for FY2024. The significant thing to note this quarter is the decrease in portfolio occupancy by 1.0%, contributed by a lease expiry in Sydney for the 6-20 Clunies Ross Street, a logistics property. While management have disclosed that there is a new prospective tenant, we may see a further DPU impact in the next quarter announcement. The aggregate leverage also saw a notable increase this quarter, though there are no breakdowns in this business update for the reasons to the increase.
Do note on 11 October 2024, CLAR have announced the disposal of 21 Jalan Buroh in Singapore. The sales price amounted to SGD112.8 million which represents a 93.2% premium to original purchase price and 67.1% premium to recent valuation. The net proceeds after divestment costs are expected to be SGD102.9 million, which represents that the selling costs are approximately 9% of the selling price....
