Meanwhile, the preferential offering to unitholders will carry an issue price of between S$2.96 and S$3.05 per new unit, which is at a 5-7.8 per cent discount to the VWAP.
These two deals are subject to the completion of negotiations with the vendor and satisfactory due diligence; Ascendas Reit's manager is evaluating both potential acquisitions and may or may not proceed with them. This will lengthen the total portfolio WALE to 4.1 years from 3.9 years by rental income as at end-September.
The two office properties - a seven-storey building at 510 Townsend Street and a six-storey building at 505 Brennan Street - are located within the South of Market submarket, which has one of the highest concentrations of tech tenants in the city. Other key tenants in the vicinity include Adobe, PayPal, Airbnb and Cruise Automation.
Singapore Latest News, Singapore Headlines
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