Singapore’s Ascendas REIT to acquire two US properties for $560m

Singapore’s Ascendas REIT to acquire two US properties for $560m

Located in SoMa, San Francisco, 505 Brannan Street (pictured) is a six-storey building completed in 2017. It is fully leased to Pinterest, a visual discovery engine listed on the New York Stock Exchange. (Ascendas Reit)

Ascendas Reit, Singapore’s largest listed business space and industrial real estate investment trust, has proposed to acquire two office properties in San Francisco, California, for $560.2 million.