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New Singapore REIT Paying $99 Million To Enter Chicago Industrial Market

Deal Is Second Recent Example of Blackstone Affiliates Selling Area Warehouse Portfolios
Ascendas Real Estate Investment Trust is paying $99 million for seven Illinois warehouses, including this one at 501 S. Steward Road in Rochelle. (CoStar)
Ascendas Real Estate Investment Trust is paying $99 million for seven Illinois warehouses, including this one at 501 S. Steward Road in Rochelle. (CoStar)
CoStar News
May 11, 2022 | 8:58 P.M.

A newly formed real estate investment trust based in Singapore will pay $99 million for seven Illinois logistics properties, marking the second recent deal in which a Blackstone Group affiliate is cashing in on industrial properties near Chicago.

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