ESR-REIT's UE BizHub EAST. (Photo: REITsWeek)

A major bank in Singapore has reduced its distribution per unit (DPU) forecasts on ESR-REIT, after the industrial landlord announced plans to raise up to SGD150 million in equity fund-raising exercises.

ESR-REIT announced on 17 June that it would be deploying proceeds from the exercise towards a property acquisition, and an asset enhancement initiative (AEI).

Related: ESR-REIT to raise up to SGD150 million for acquisition, enhancements

Unit price for the REIT has since fallen by more than 6% since this announcement.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.