CapitaLand Ascendas REIT Completes $172M Buy

CapitaLand Ascendas REIT has completed the acquisition of a logistics estate at 25 Loyang Crescent in Singapore. The REIT's manager said the S$218.3 million ($171.8 million) deal was funded from its earlier equity raising.

According to the manager, the REIT's S$903.5 million equity fundraising, completed earlier this year, has now been fully utilised. The proceeds financed acquisitions across Singapore, the US, Spain, and Japan. The REIT has leased back the newly acquired Singapore asset.

Data Centre Operators Report Growth

The source report highlights significant activity in the data centre sector. Australia's NextDC reported record fiscal 2026 results, with net revenue rising 16 percent to A$405 million ($291.7 million). Underlying EBITDA climbed 15 percent to A$248.8 million. You can find more detailed company performance on our stats page.

NextDC also doubled its capital expenditure to A$3.4 billion. The company's contracted utilisation more than tripled, jumping 202 percent to 740.1 megawatts on a pro forma basis.

In India, data centre operator Yotta Data Services is preparing for a stock market listing. Chairman Darshan Hiranandani told reporters the move aims to meet surging AI demand, though he declined to disclose a valuation target. Earlier reports indicated the company is targeting INR 60 billion to INR 80 billion ($628 million to $837.3 million) as part of a wider fundraising push.

Asia-Pacific Market Movements

Several other real estate transactions and market shifts were reported across the Asia-Pacific region.

Melbourne-based Forza Capital sold its Spring Hill office tower at 200 Creek Street in Brisbane. The asset was sold to Direct Commercial Property for more than A$55 million ($39.6 million). Forza had bought the tower for A$43 million in December 2021 and completed a A$13.5 million refurbishment. The fully leased building reportedly achieved a yield of 7.5 to 8.2 percent.

In Hong Kong, the private home price index fell 0.5 percent in July from a month earlier. Data from the Rating and Valuation Department shows this ended a 13-month streak of gains, the market's longest winning streak since 2018. Analysts cited an equity market correction and tighter Chinese restrictions on outbound investment as factors weighing on demand. The index remains up 7.3 percent this year. For broader market context, see our standings page.

REITs Face Challenges

The source notes difficulties for some real estate investment trusts. Eagle Hospitality Trust will be delisted from the Singapore Exchange on 31 August. This follows the repatriation of all remaining funds to a US liquidating trust by DBS Trustee. With 27 of the US hotel REIT's properties having filed for bankruptcy in 2021, stapled securityholders will not receive any value from the wind-down.

Singapore-listed Acrophyte Hospitality Trust lost both planned hotel sales from a June divestment plan. The buyer terminated its purchase of the Hyatt Place Atlanta Alpharetta Windward Parkway hotel on 24 August. A separate deal for the Hyatt Place Atlanta Norcross Peachtree Corners was terminated on 13 August. The REIT refunded the $100,000 deposit and said it will explore other options.

Hong Kong-listed Shimao Group faces a fresh winding-up petition. Mainland lender Guotong Trust filed the petition on 27 August, citing RMB 2.5 billion ($372 million) in unpaid judgment debts from four mainland court rulings. The High Court has scheduled the first hearing for 11 November. Shimao said it will oppose the petition and continue operating as normal.

This information was reported by Mingtiandi in a roundup of Asia-Pacific real estate headlines.