Spring REIT property, Huamao Place. (Photo: Huamao Group)

RE Strategic Investments, an entity associated with PAG Real Estate, has increased its cash offer for Spring REIT by HKD0.45, taking it to HKD5.30 unit.

The offer will also be extended to 14 November 2018, to provide additional time for unitholders of Spring REIT to consider accepting it.

PAG Real Estate formally opened its voluntary conditional cash offer of HKD4.85 (USD0.62) for each unit of Spring REIT in September 2018 as part of a takeover attempt.

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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.