Frasers Logistics & Industrial Trust has agreed to buy Frasers Commercial Trust in a US$1.54 billion deal, giving it greater ammunition to make acquisitions amid a spate of consolidation among Singapore’s real estate investment trusts (Reits).
Combined, the group will have about US$5.7 billion of assets from 98 properties totaling 2.6 million square metres of space across Singapore, Australia, and Europe, including warehouses, offices, and business parks.
The merged Reit’s market value will almost double to about US$4.2 billion, propelling it No 9 among Singapore’s top 10 Reits, according to a joint statement on Monday, December 2.
Full Content: Reuters
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