Soilbuild REIT's Eightrium in Changi Business Park (Photo: REITsWeek)Soilbuild REIT's Eightrium in Changi Business Park (Photo: REITsWeek)

Soilbuild REIT (SB REIT) was delisted from the Singapore Exchange (SGX) at 9 am on 14 April.

The REIT, which launched its initial public offering in August 2013, existed mainly as a tenant of industrial spaces and business parks in Singapore.

It was taken private via a trust scheme, which involved Soilbuild’s founder Lim Chap Huat, and funds managed by affiliates of Blackstone Real Estate.

As part of the scheme, unitolders received SGD0.53806 in cash for each REIT unit on 12 April.

Following delisting, the REIT is now a private trust and will cease to be an authorised collective investment scheme.

“This privatisation has not only allowed SB unitholders to monetise their investment at an attractive premium, but has also given Soilbuild Group an opportunity to partner with established industry player Blackstone Real Estate to review and reposition the asset portfolio of SB REIT for the long term”, said Lim in a 12 April statement.

Soilbuild REIT’s data have been removed from the Singapore REITs table.

By Shariffa Al-Habshee

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