First REIT has addressed concerns among some investors that OUE Lippo Healthcare Limited (OUELH) might now inject its undesirable properties into the former’s portfolio, given its newly acquired stake in both the REIT and its manager.

The issue was raised during a Q&A session with the CEO of First REIT’s manager, Victor Tan, at an investors meeting organised by GCP Global on 9 March.

In October 2018, Catalist Board-listed OUELH received approval from its unitholders to acquire 400,000 ordinary shares of First REIT’s manager, representing a stake of 40%.

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