A-Reit issues $241 million worth of new units

The deal marks the first equity fundraising in the Singapore Reit sector this year and is priced at the bottom of the range for an adjusted yield of 4%.

A-Reit issues $241 million worth of new units

Singapore-listed Ascendas Real Estate Investment Trust A-Reit has raised S$298.5 million $241 million from a follow-on share placement that will be used to fund a variety of projects, including asset enhancements and the acquisition of a business property in Shanghai.

The deal, which was completed yesterday, is the first equity fundraising in the Singapore Reit sector this year. Last week, ML Hospitality Trusts, which was set to own six hotels in Singapore, Australia and...

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