Singapore's Ascendas Reit to take control of Galaxis business park for $400m

Singapore's Ascendas Reit to take control of Galaxis business park for $400m

Ascendas Real Estate Investment Trust (Ascendas Reit), Singapore’s first and largest listed commercial and industrial REIT, will acquire the remaining 75% stake in Ascendas Fusion 5 Pte Ltd, the holding entity for business park Galaxis for S$534.4 million ($400 million).

Ascendas Reit had acquired the initial 25% interest in Galaxis in March 2020.

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