Data Center · Singapore · Datacenter Dynamics
CapitaLand sells Singapore data center for $155.2m
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◌ Single Source
CapitaLand Ascendas REIT (CLAR) has sold a data center in Singapore.
Key facts
- The company this week announced it is divesting the Kim Chuan Telecommunications Complex at 38 Kim Chuan Road in Singapore, for a sale consideration of approximately S$200.4 million (US$155.2m)
- The sale price is double the original S$100 million (US$77.46m) CLAR paid to acquire the property in March 2005
- CapitaLand said the estimated S$180 million (US$139.4m) in net proceeds may be utilized for various purposes, including financing committed investments, paying down debt, extending loans
- Singtel was previously known to occupy both the Kim Chuan Telecommunications Complex building (KCTC-1) and the neighboring facility at 38A Kim Chuan Road (KCTC-2), but the company has been exiting
Summary
The company this week announced it is divesting the Kim Chuan Telecommunications Complex at 38 Kim Chuan Road in Singapore, for a sale consideration of approximately S$200.4 million (US$155.2m) to an unnamed, unrelated, third party. The sale price is double the original S$100 million (US$77.46m) CLAR paid to acquire the property in March 2005. The 10-story data center building totals 35,455 sqm (381635 sq ft). William Tay, CapitaLand Ascendas REIT Management Limited CEO and executive director, said: “This divestment underscores their disciplined approach to portfolio optimization and capital recycling. CapitaLand Ascendas REIT (formerly known as Ascendas Reit, or A-REIT) acquired the facility, along with several others, in 2005 from Singtel.