CapitaLand Ascendas REITP Proposed to Acquire Seagate R&D Facility in Singapore

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CLAR proposes to buy Seagate Singapore R&D facility with data center
Seagate Singapore to remain sole occupant for remaining 10-year lease

CapitaLand Ascendas REIT (CLAR) has proposed the acquisition of Seagate Singapore’s R&D facility, including a data center, for S$218.24 million ($163.14 million). Built only 8 years ago and located in the one-north area of Singapore, the facility is known as ‘The Shugart’ and was named after Seagate founder and former CEO Alan Shugart. The acquisition is anticipated to complete in 2Q23.