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Management has guided for AUM to grow 20% annually, depending on market conditions and the right asset fit, he adds, which translates to asset acquisitions amounting to about US$300 million per annum. “It will continue to focus on non-gateway second-tier markets that benefited from a demand shift due to Covid-19. The REIT is scouring for opportunities from its sponsor portfolio as well as third-party assets, with a focus on growth markets driven by tech and established sectors (innovation clusters).” Natarajan expects Prime US REIT to acquire one to two assets in 2021 valued between US$100 and US$200 million apiece in 2021. “It is also eyeing an eventual inclusion into the FTSE EPRA NAREIT index, which should result in greater trading liquidity and an improved investor profile – thereby compressing its high trading yield.” As at 10.40am, units in Prime US REIT are trading 1 US cent lower, or 1.24% down, at 80 US cents.