SINGAPORE (Dec 6): With only two assets under its belt, LendLease Global Commercial REIT (LLGCR) might not appear to be an attractive prospect for investors. But some analysts are keeping a close eye on the recently listed retail REIT.

Describing LLGCR as a “gem in the making”, DBS Group Research is initiating coverage on the REIT with a “buy” recommendation and a target price of $1.05.

Launched by Australia-listed developer Lendlease Group, the REIT’s portfolio currently comprises the 313 @ Somerset mall in Singapore and Sky Complex, a Grade A office development in Milan, Italy.

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