Asia's first Pan-Asian Reit nears launch

Singapore-listed Reit hopes to tempt investors with above average yield.
AsiaÆs first cross-border real estate investment trust available to a broader investment base is close to launching in Singapore after clearing all the regulatory hurdles.

Allco Commercial Reit is aiming to raise up to S$504.9 million $311 million from the sale of 495 million units in a trust that will comprise three assets in Singapore and Australia with a combined total asset value of S$680 million.

Credit Suisse is the sole global coordinator and joint bookrunner together with DBS. Macquarie Securities and UOB are acting as co-leads.

Bankers believe the diversification of the assets to countries outside Singapore will initially help enhance the yield as income earned from the Australian portion of the portfolio...
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