PRIME US Reit has debuted on the Singapore Exchange (SGX) at US$0.865 per unit, down 1.7 per cent or US$0.015 from its initial offer price of US$0.88. Read more at The Business Times.
PRIME US Reit has debuted on the Singapore Exchange at US$0.865 per unit, down 1.7 per cent or US$0.015 from its initial offer price of US$0.88.had received applicationsPrime US Reit has an initial portfolio of 11 Class A and freehold office properties across nine office markets in the US.
"The successful IPO of Prime US Reit is a testament to the market’s confidence in our stable and resilient IPO portfolio that provides a unique geographically-diversified exposure to the growing US commercial real estate sector, as well as a strong potential for acquisition growth beyond the IPO portfolio through leveraging the established KBS platform," said Barbara Cambon, chief executive officer and chief investment officer of KBS US Prime Property Management Pte Ltd, the manager...
Prime US Reit is the third US office Reit to list here after Manulife US Reit and Keppel-KBS US Reit. Its listing brings the total number of SGX-listed Reits and property trusts to 45, with a combined market capitalisation of about S$110 billion. Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of over S$190 billion, said Mr Nasser.
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Prime US Reit units 1.2 times subscribed ahead of listing on FridayTHE manager of Prime US Reit, KBS US Prime Property Management, has received applications for 1.2 times the number of units originally on offer, it said ahead of the Reit's trading debut on the Singapore Exchange (SGX) mainboard at 2pm on Friday. Read more at The Business Times.
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