Ascendas Real Estate Investment Trust acquired a Portfolio of 11 Data Centres in Europe from Digital Realty Trust, Inc. for approximately SGD 900 million.
The transaction is expected to be completed on March 17, 2021. Digital Realty expects proceeds from the transaction will initially be used to pay down debt and will ultimately be used to fund future investment activity. The transaction is expected to be accretive to Distribution per unit (DPU). Net property income yield for the first year is approximately 6.0% and 5.7% pre-transaction costs and post-transaction costs respectively. The pro forma impact on the DPU for the financial year commencing on January 1, 2020 and ended December 31, 2020 is expected to be an improvement of SGD 0.189 assuming the acquisition was completed on January 1, 2020. Newmark Knight Frank Valuation & Advisory, LLC acted as independent property valuer to Ascendas. CBRE Limited served as advisor and White & Case LLP acted as a legal advisor to Digital Realty Trust, Inc. for the transaction.
Ascendas Real Estate Investment Trust (SGX:A17U) completed the acquisition of a Portfolio of 11 Data Centres in Europe from Digital Realty Trust, Inc. (NYSE:DLR) on March 17, 2021. Dan Norris, Sian Owles, Anita de Jong, Jan de Snaijer, Victor de Vlaam, Leonie Huisman, Carola Houpst, Imane Azdad, Georgi Boyadzhiev, Jacob Hoogslag Liza Krijgsheld, Joris de Leeuw, Marieke Plaisier, Saad Amjad, Aline Doussin, Nicola Fulford, Mark Jones, Stefan Martin, Jamie Rogers, Andrew Taylor, Elliot Weston Tim Reid, Adam Balfour Jim Davis, Clare Douglas, Sian Howes, Christopher Hyde, Edward Newport, Christopher Peacock, Emily Sharkey, David Wood, Joe Barnes, Imogen Brooks, Emma Hughes, Iris Karaman, Sophie Marson, Linda Ruan, David Sheridan, Ellie Thwaites, Lauren Bailey, Kate Gardner, Alice Russen, Bea Watts, Bradley Weller, Alexander Koch, Emmanuel Lamaud, Laurence Heinen, Ludovic Geneston, Michael Levy, Michel Quéré, Alice Houdart, Astrid Layrisse, Charlotte Le Roux, Margot Derumaux, Gabriel Lecordier, Maryll Pizzetta, Maximilien Schmitt, Florian Tranchecoste and Marie-Pascale Bertin of Hogan Lovells acted as legal advisor for Ascendas Real.