Prime US REIT to list in Singapore with 11 Grade A office properties

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KBS Asia Partners-sponsored Prime US REIT will list on the Singapore Exchange (SGX) with an initial portfolio of 11 Grade A office properties across nine US states.

The initial public offering (IPO) for the REIT has been priced at USD0.88 per unit.

Based on this IPO price, the REIT’s manager is forecasting a dividend yield of 7.4% in FY2019, and 7.6% in FY2020.

The IPO comprises 360 million cornerstone units, and 335 million units for public allocation and placement.

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