Keppel-KBS US REIT's Westmoor Center in Denver, Colorado. (Photo: Keppel-KBS US REIT)

The public offer for the Keppel-KBS US REIT has opened, and applications will close at 12 noon on 7 November 2017.

Units in Keppel-KBS US REIT are expected to commence trading on the Singapore Exchange at 2.00 pm on 9 November 2017.

Prospectus for the REIT’s initial public offering (IPO) and listing has been filed with the bourse, managers of Keppel-KBS US REIT announced on 2 November.

Keppel-KBS US REIT has priced its IPO of 262,772,400 units at USD0.88 each.

The REIT has indicated that it will invest in a “diversified portfolio of income-producing commercial assets and real estate-related assets in the key growth markets of the United States”, according to an earlier prospectus filed with the Monetary Authority of Singapore.

The REIT’s manager, Keppel-KBS US REIT Management Pte Ltd, is owned jointly by its sponsors, Keppel Capital and KBS Pacific Advisors.

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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.