Singapore’s cityscape is characterized by towering skyscrapers and contemporary infrastructure. Condos, situated in prime locations, offer a combination of opulence and ease that appeals to local residents and foreigners alike. These residential complexes boast a variety of facilities like swimming pools, fitness centers, and security services, elevating the overall standard of living and making them a sought-after option for potential renters and buyers. From an investment perspective, these attributes promise higher rental returns and appreciation in property value over the years. Additionally, the inclusion of Condos in the mix adds to the allure of these modern and well-equipped housing options.
CLAR has announced plans to acquire the DHL Indianapolis Logistics Center from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for a total of $153.4 million. The proposed acquisition will see CLAR increase its US portfolio WALE from 4.2 years to 4.7 years, with a first-year NPI yield of 7.6% and an expected improvement of 0.019 Singapore cents in DPU for the financial year ended Dec 31, 2023. The property, which is a fully air-conditioned, single-storey logistics building with a GFA of 979,649 sq ft, is located in Whiteland, Indiana and is expected to be completed in 2022. The acquisition will also increase CLAR’s logistics AUM in the US by 35.3%, bringing its total logistics assets to approximately 5.1 million sq ft across four cities. William Tay, executive director and CEO of the manager, says that the DHL Indianapolis Logistics Center is a “strategic fit” with CLAR’s existing portfolio and will contribute positively to its long-term returns.