Ascendas Innovation Place in North SydneySINGAPORE–Ascendas-Singbridge Group has acquired a portfolio of 33 office properties in the US — its first deal here. The portfolio, which has a total net lettable area of 3.3 million square feet, is located in Portland, Raleigh and San Diego.
Terms of the deal and the seller were not announced.
The company says that the portfolio has a high occupancy rate and includes such tenants as Nike and Oracle. It is expected to generate stable returns and long-term growth. “We focus on locations with favorable long-term fundamentals and will continue to seek out opportunities that will allow us to benefit from advances in science, technology and innovation in the future economy,” says He Jihong, chief investment officer of the company in a prepared statement.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
