The manager of Ascendas Real Estate Investment Trust (A-REIT), says it has acquired a property known as Ascendas Z-Link located at Block 17, No. 8 Dongbeiwang West Road, Zhongguancun Software Park, Haidian District, Beijing, China, for RMB 300 million ($61.6 million).
The property is owned by Ascendas Hi-Tech Development (Beijing), a wholly-owned subsidiary of Ascendas ZPark (Singapore).
The acquisition was made through the purchase of all the shares in Ascendas ZPark (Singapore) from Ascendas China Industrial and Business Parks Fund.
Monday, October 3, 2011
Ascendas REIT acquires property in Beijing IT park for $62m
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