RHB Group Research is positive on Prime US REIT’s acquisition of two properties in San Diego and Florida for US$245.5million ($330.2 million), along with its US$80 million private placement to partially finance the acquisition.


See also: Prime US REIT acquires offices in San Diego and Florida for US$246 mil, launches US$80 mil private placement and Prime US REIT issues 98.8 mil new shares under private placement, raising US$80 mil


The remainder of the acquisition will be funded by debt. Management has guided that the deal will result in distribution per unit (DPU) accretion of 2.4%, based on pro-forma FY2020 ended December financials.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook