Further welcome signs that Asia’s real estate investment trust investors are getting more choosy arose in July when Cambridge Industrial Trust relaunched its stalled IPO in Singapore with an enhanced yield to persuade punters to subscribe.
CIT, pitching itself as Singapore’s first independent Reit, was forced to pull its original offer in June after investors baulked at the 6.5% prospective yield, which compared with comparable yields for other Singapore-listed Reits of about 6%. It is an industrial warehousing and logistics play, so investors presumably wanted to see more yield than is paid on traditional office and...
