Among them, Frasers Centrepoint Trust and ESR-REIT announced placements and preferential equity offerings in Singapore dollars to acquire Singapore assets. FCT’s main acquisition is a one-third stake in Waterway Point. Waterway Point is a successful suburban mall that is connected to Punggol MRT in an up-and-coming residential area.
SINGAPORE (July 1): Real estate investment trusts are still bankers’ best friends. In the first half of this year, Singapore REITs raised $1.35 billion (see Table 1) through placements that was used mainly for acquisitions. In general, these acquisitions have been accretive to distribution per unit (DPU).
