CapitaLand Ascendas REIT divesting data centre at 38 Kim Chuan Road for $200.4 mil, double the purchase price in 2005

Jovi Ho07-15

Since its acquisition in 2005, the property had been occupied by a single tenant - Singtel - until April 30 this year. Photo: CapitaLand Ascendas REITCapitaLand Ascendas REIT (CLAR) is divesting Kim ...

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Photo: CapitaLand Ascendas REITCapitaLand Ascendas REIT (CLAR) is divesting Kim ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/data-centres/capitaland-ascendas-reit-divesting-data-centre-38-kim-chuan-road-2004-mil-double?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CapitaLand Ascendas REIT divesting data centre at 38 Kim Chuan Road for $200.4 mil, double the purchase price in 2005</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCapitaLand Ascendas REIT divesting data centre at 38 Kim Chuan Road for $200.4 mil, double the purchase price in 2005\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-15 10:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/data-centres/capitaland-ascendas-reit-divesting-data-centre-38-kim-chuan-road-2004-mil-double?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Jovi Ho</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Since its acquisition in 2005, the property had been occupied by a single tenant - Singtel - until April 30 this year. Photo: CapitaLand Ascendas REITCapitaLand Ascendas REIT (CLAR) is divesting Kim ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/data-centres/capitaland-ascendas-reit-divesting-data-centre-38-kim-chuan-road-2004-mil-double?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JJJ.SI","symbol_name":"Lion-Nomura Japan Active ETF","start_time":0,"source_url":"https://www.theedgesingapore.com/news/data-centres/capitaland-ascendas-reit-divesting-data-centre-38-kim-chuan-road-2004-mil-double?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2651916764","we_media_id":null,"thumbnails":[],"rights":{"source":"edge_highlight","url":"https://www.theedgesingapore.com/news/data-centres/capitaland-ascendas-reit-divesting-data-centre-38-kim-chuan-road-2004-mil-double?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2651916764","pubTimestamp":1784083245,"columns":[],"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"Since its acquisition in 2005, the property had been occupied by a single tenant - Singtel - until April 30 this year. 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Photo: CapitaLand Ascendas REITCapitaLand Ascendas REIT (CLAR) is divesting Kim Chuan Telecommunications Complex at 38 Kim Chuan Road in Singapore after more than 20 years at double the original purchase price. \nAccording to a July 15 bourse filing, the sale consideration of approximately $200.4 million from CLAR to an unrelated third party is double the $100.0 million CLAR paid for the 10-storey data centre in March 2005.  \nThe consolidation also represents a premium of approximately 32% to the independent market valuation of $151.8 million as at June 30. The valuation for the property was commissioned by the manager and HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of CLAR. It was carried out by Savills using the income capitalisation method and discounted cash flow analysis.\nKim Chuan Telecommunications Complex has a gross floor area of 35,456 sqm. Since its acquisition in 2005, the property had been occupied by a single tenant - Singtel - until April 30 this year. \nThe estimated net proceeds after divestment costs are expected to be approximately $180.0 million. The net proceeds may be utilised for various purposes, including financing committed investments, paying down debt, extending loans to subsidiaries, funding general corporate and working capital needs and/or making distributions to CLAR unitholders. \nAssuming the estimated net proceeds were used to repay CLAR's borrowings as at March 31, its pro forma aggregate leverage would be approximately 41.4%, lower than 42.0% reported as at March 31. \nThe divestment is expected to be completed by 2H2026. \nAssuming the divestment had been completed on Jan 1, 2025, the pro forma impact on CLAR's net property income and distribution per unit for the financial year ended Dec 31, 2025 would be a decrease of $10.0 million and 0.203 cents, respectively. \nThe divestment of the property is not expected to have any material impact on CLAR's net asset value and distribution per unit for the financial year ending Dec 31. \nIn accordance with the trust deed dated Oct 9, 2002 constituting CLAR, the manager is entitled to a divestment fee of 0.5% of the sale consideration, which will be paid in cash. \nUnits in CLAR closed flat at $2.49 on July 15, down some 12% year to date.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2651916764","isCrawlerRequest":true}