Allco Commercial prices first pan-Asian REIT
Geographically-diversified assets receive mixed response from investors.
Allco Commercial Real Estate Investment Trust has priced its REIT in the middle of the indicated range at S$1 per unit, which fixed the total deal size at S$495 million $305 million.
The vehicle comprises office and retail properties in Singapore and Australia with a combined total asset value of about S$680 million. This makes it unique among Asian REITs in terms of geographical diversification û a fact that some investors said made it more attractive.
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