ascendas-offers-reitlike-trust-backed-by-indian-assets

Ascendas offers Reit-like trust backed by Indian assets

The trust will invest in real estate that provides business space primarily for Indian outsourcing and IT firms.
Singapore-based Ascendas India Trust is getting ready to kick-off an institutional roadshow this week for what will become the first opportunity for investors to buy a Reit-like vehicle backed by Indian assets.

The vehicle, which is to be known as a-iTrust, will be listed in Singapore but will focus on income-producing real estate that is used primarily as business space within information technology parks and other outsourcing hubs in India. The initial four properties in the portfolio are located in Bangalore, Hyderabad and Chennai, which are viewed as attractive destinations for IT and IT enabled services companies.

The trust is looking to raise up to S$500 million $328 million from the sale of between 53%...
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