Keppel Capital and SPH have each committed US$55 million for a 6.8 per cent stake in Prime US Reit. AT Investments has committed US$65 million for an 8 per cent stake.
The Reit properties are located across Oakland, Salt Lake City, Denver, St Louis, Dallas, San Antonio, Philadelphia, Washington DC and Atlanta. Aggregate leverage immediately upon listing will be 37 per cent, up from the 35 per cent earlier indicated. The good operational performance from Singapore's existing US-based office Reits should also be helpful for this IPO, said Mr Natarajan.
Source: News Formal (newsformal.com)
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