REITS back on the ascendant

Pre-marketing has been launched for Singapore''s second Reit offering in an attempt to lure investors with a defensive yield play.

Jackie Horne

October 16, 2002

Bookrunners DBS, JPMorgan and Salomon Smith Barney began pre-marketing a potentially S$240 million ($133 million) offering for Ascendas Real Estate Investment Trust (A-REIT) yesterday (Wednesday). The trust is a joint venture between Singapore's Ascendas Land, held by government-owned JTC Corp and Macquarie Goodman Industrial Management, Australia's largest industrial REIT manager.

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