Soilbuild Business Space REIT property in Changi Business Park, EightriumSoilbuild Business Space REIT property in Changi Business Park, Eightrium

British multinational asset management company Schroders plc purchased 218,000 units of Singapore-listed industrial REIT Soilbuild Business Space (SGX:SV3U) on 24 April on behalf of clients.

According to filing documents from the REIT, the units were purchased at a total price of SGD170,040 translating to an acquisition cost of about SGD0.78 per unit - the same price at it initial public offering (IPO) slightly less than a year ago.

The purchase increases the investment manager's stake in the REIT to about 10.02%, up from 9.99% previously. Schroders plc now holds a total of 80.86 million units in the REIT.

Units of Soilbuild REIT closed the trading day 1.27% lower from its previous close at SGD0.775 on the Singapore Exchange

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.