Singapore: REITS get more sophisticated A series of recent transactions from Real Estate Investment Trusts (REITs) in Singapore, the de facto non-Japan Asia centre for the specialist property investment vehicles, are proving not only the popularity of the asset class with investors but also their flexibility as funding vehicles for real estate assets.
In May, BNP Paribas launched a $237 million CMBS (commercial mortgage-backed securities) issue for Ascendas REIT, collateralized by a loan secured on 23 Ascendas-owned industrial properties in Singapore.
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