Macquarie lists Korean Reit

ItÆs Korea''s first Reit by a wholly foreign owned manager

Korea's fledgling real estate investment trust Reit industry took another step forward yesterday with the $73 million IPO of Macquarie Central Office Corporate Restructuring REIT MCO CR-REIT on the Korean Stock Exchange.

This represents Korea's seventh CR-REIT since the government legislation enabling REITs was enacted two years ago. It is however, the first one to be issued by a wholly foreign owned manager.

The retail portion of the transaction was 2.25 times oversubscribed, an encouraging sign for the coming of age of the Korean Reit sector. David Schaefer, Macquarie's head of real estate for Asia, says, This CR-REIT is indicative of the acceptance that new Reit products...

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222