CapitaLand Ascendas REIT: Clar deepens Europe portfolio with acquisition of logistics assets in Spain for S$185.4m

CapitaLand Ascendas REIT: Clar deepens Europe portfolio with acquisition of logistics assets in Spain for S$185.4m

CapitaLand Ascendas REIT Expands European Logistics Presence with Spain Acquisition

CapitaLand Ascendas REIT (CLAR) has acquired two logistics assets in Spain for S$185.4 million, marking its latest move to strengthen its European portfolio. The transaction, finalized on February 26, 2026, adds to CLAR's existing holdings in Germany, France, and the Netherlands, broadening its presence in the Iberian Peninsula's logistics market.

The acquired properties, located in Zaragoza and Valencia, span approximately 280,000 square meters of high-quality warehouse space. Both assets are fully leased to long-standing tenants in the e-commerce and industrial sectors, with weighted average lease tenures of 6.2 years. This acquisition aligns with CLAR's strategy to capitalize on Europe's growing demand for logistics infrastructure, driven by e-commerce expansion and supply chain diversification trends.

The transaction reflects CLAR's focus on core markets with strong fundamentals. Spain's logistics sector has seen consistent demand, supported by its strategic location as a Mediterranean trade hub and infrastructure investments. The acquisition's yield of 4.8% aligns with CLAR's target of securing assets at risk-adjusted returns within its European expansion framework.

This move follows CLAR's S$320 million investment in German logistics assets in late 2025, underscoring its commitment to scaling its European exposure. As of Q4 2025, CLAR's European portfolio constitutes 22% of its total assets under management, with logistics assets accounting for 68% of its overall holdings.

The transaction is expected to be neutral to CLAR's net asset value per unit, with no immediate impact on distribution per unit. The REIT emphasized that the acquisition was funded through a combination of internal reserves and optimized debt financing, maintaining its debt-to-asset ratio below 40%.

With Europe's logistics market projected to grow at a 5.1% CAGR through 2030, CLAR's expanded footprint positions it to benefit from long-term secular trends in industrial real estate.

[引用越界:1]: CapitaLand Ascendas REIT, February 2026 announcements and portfolio disclosures.