“We believe the portfolio excluding AMK Hub will still be attractive. However, if Nex is also excluded from the equation, the portfolio may still be attractive to some bidders but less efficient to some potential buyers, in our view,” the team says.
Frasers Centrepoint Trust (FCT) may be back in the running among the Singapore REITs (S-REITs) bidding for the Mercatus portfolio now that the portfolio may exclude AMK Hub and, or Nex, say DBS Group Research analysts Rachel Tan, Geraldine Wong, Percy Leung, Derek Tan and Jeff Yau.
The portfolio could be reduced to $3.3 billion if AMK Hub is excluded; it could be further reduced to $2.3 billion if both AMK Hub and Nex are excluded.
