REITS back on the ascendant

Bookrunners DBS, JPMorgan and Salomon Smith Barney began pre-marketing a potentially S$240 million ($133 million) offering for Ascendas Real Estate Investment Trust (A-REIT) yesterday (Wednesday). The trust is a joint venture between Singapore's Ascendas Land, held by government-owned JTC Corp and Macquarie Goodman Industrial Management, Australia's largest industrial REIT manager.