Singapore Reit targets US investors
The strategy proves worthwhile for Cambridge Industrial Trust as it raises $133 million to add six properties to its portfolio.
Cambridge Industrial Trust has raised S$193.9 million $133 million from a follow-on unit sale to pay for the acquisition of six more industrial properties and, in the process, has become the first Singapore real estate investment trust Reit to sell units into the US.
The fully marketed offering of shares under Rule 144A proved to be well worth the extra effort as institutional investors based in the US accounted for over 30% of the total demand. And given that...
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