Ascendas REIT is raising some SGD1.29 billion (USD950 million) from existing investors to partially fund the acquisition of 30 business park properties across the US, and Singapore.

The REIT announced on 1 November that it would be acquiring 28 business parks in the US, and two business park properties in Singapore for a total consideration of SGD1.66 billion.

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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.