CapitaLand Ascendas REIT ( CLAR ) is spending S$1.4 billion to acquire two assets in Singapore and a hyperscale data centre in Japan for a total of S$1.41 billion ( US$1.10 billion ).

The acquisitions include a 100% interest in 25 Loyang Crescent, a cluster of ramp-up logistics and industrial buildings, for S$504.2 million, and a 50% interest in Ascent, a premium business space property at 2 Science Park Drive, for S$245.0 million. Both assets are in Singapore. A global sovereign wealth fund will acquire the remaining 50% interest in Ascent.

CLAR is also entering Japan through the acquisition of a 49% interest in a Tier III hyperscale data centre in Greater Osaka for S$620.7 million, or 76.4 billion yen ( US$470 million ). The remaining interest in the data centre is held by a fund managed by Mitsui & Co. Realty Management, a subsidiary of Japanese conglomerate Mitsui & Co.

The total outlay includes acquisition fees payable to the CLAR manager, or approximately S$101.8 million, and other expenses.

25 Loyang Crescent in Singapore. ( CLAR )

Ascent, a premium business space property at 2 Science Park Drive, Singapore. ( CLAR )

Tier III hyperscale data centre in Greater Osaka. ( CLAR )

The manager of the real estate investment trust says the latest acquisitions are part of its portfolio rejuvenation strategy to strengthen CLAR’s earnings resilience and enhance the portfolio quality. The three acquisitions are expected to be distribution per unit ( DPU )-accretive for CLAR on a pro forma basis and will further enhance CLAR’s stable income stream.

Assuming all three acquisitions were completed on January  1 2025, the DPU  accretion is expected to be approximately 0.318 Singapore cents or 2.1%. Each acquisition is also expected to be DPU-accretive on a standalone basis.

“Following our recent acquisitions of quality industrial and logistics assets, these three new accretive acquisitions reaffirm our commitment to build a high-quality and resilient CLAR portfolio,” says William Tay, chief executive officer and executive director of CapitaLand Ascendas REIT Management Limited ( the manager ).

“These assets strengthen our presence in Singapore, where we have  strong market leadership  in business space and life sciences as well as logistics, while expanding into developed markets such as Japan with healthy market fundamentals and demand drivers. CLAR’s new expansion into Japan reflects our disciplined approach to scaling and diversifying CLAR’s global data centre portfolio across key established digital hubs with strong demand drivers and connectivity.”

Tay notes that Osaka is the second largest data centre market in Japan and one of the fastest-growing established data centre markets  in Asia-Pacific. Osaka recorded a solid performance in 2025, supported by stable fundamentals and continued interest from operators and investors with hyperscale campus developments planned for generative AI and AI-related business.