Prime US Reit prices IPO at US$0.88 per unit

📆 6/29/2019 4:06 PM
📰 BusinessTimes

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'However investor fatigue due to the recent listings of two US hospitality Reits and the ongoing escalation in US china trade tensions might act as potential dampeners.'

Keppel Capital and SPH have each committed US$55 million for a 6.8 per cent stake in Prime US Reit. AT Investments has committed US$65 million for an 8 per cent stake.

The Reit properties are located across Oakland, Salt Lake City, Denver, St Louis, Dallas, San Antonio, Philadelphia, Washington DC and Atlanta. Aggregate leverage immediately upon listing will be 37 per cent, up from the 35 per cent earlier indicated. The good operational performance from Singapore's existing US-based office Reits should also be helpful for this IPO, said Mr Natarajan.

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Prime US Reit prices IPO at US$0.88 per unit in downsized dealKBS Realty Advisors has priced the initial public offering (IPO) of Prime US Reit at US$0.88 per unit to deliver a forecasted dividend yield of 7.4 per cent in 2019, with a reduced deal size. Read more at The Business Times.
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