Keppel Pacific Oak US REIT (KORE), Prime US REIT and ESR-REIT will be included in the FTSE EPRA Nareit Global Developed Index with effect from Sep 20, according to announcements by their respective managers on Sep 2.
The FTSE EPRA Nareit Global Real Estate Index Series is developed by FTSE Russell together with the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (Nareit). The index series tracks the performance of listed real estate companies and real estate investment trusts worldwide, and is seen as the leading benchmark for listed real estate investments.
“KORE’s inclusion in the FTSE EPRA Nareit Global Developed Index is a significant milestone that will enhance our visibility among institutional investors and index funds globally, as well as improve trading liquidity and support capital raising efforts,” says David Snyder, CEO and CIO of the manager.
“The inclusion complements our ongoing efforts to broaden and diversify our investor base as KORE works to establish itself as the preferred choice for US office S-REIT investors seeking exposure to the fast-growing technology sector,” Snyder adds.
See also: UOB Kay Hian initiates 'buy' on KORE with TP of US$1.10
Barbara Cambon, CEO and CIO of Prime US REIT’s manager, says, “We are delighted with this development just over two years after our IPO on the SGX. During this time, we have executed three new acquisitions that have been accompanied by two well-subscribed equity capital raises issued at tight discounts, adding to our investor base and free float.”
Meanwhile, Adrian Chui, CEO and executive director of the ESR-REIT’s manager says the inclusion will create a stronger alignment between the REIT’s business and its investors while also solidifying its position as one of the largest industrial REITs in Singapore.
“We look forward to continued growth as we fulfil our goals of enhancing operational stability and achieving healthy portfolio and capital structure performance,” Chui adds.
As at 2.40pm, units in KORE, Prime US REIT and ESR-REIT are trading at 76 US cents, 83.5 US cents, and 49 cents respectively.
Photo: Keppel Pacific Oak US REIT
