A-Reit raises $317 million on the back of yet another acquisition

The Singapore-listed industrial property trust attracts close to 80 investors, including US real estate specialists, and is able to price the placement above the mid-point.
The visitors' centre at Singapore's Biopolis research hub is fitted with integrated solar power technology.
The visitors' centre at Singapore's Biopolis research hub is fitted with integrated solar power technology.

Singapore-listed Ascendas Real Estate Investment Trust, better known as A-Reit, late Thursday raised S$400 million $317 million from a placement of new units. The money will be partly used to fund its two latest acquisitions, partly to cover planned enhancements to its existing properties and to fund the construction of a built-to-suit logistics facility.

The most recent acquisition two seven-storey science park buildings located in Singapore’s biomedical research hub Biopolis was announced after the market closed on Wednesday and will cost A-Reit S$125.6 million. The addition of the Neuros Immunos properties to its portfolio will be marginally accretive straight off the acquisition would have added 0.03 Singapore cents to...

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