SINGAPORE (Sept 17): ESR-REIT will emerge as the fourth largest Singapore-listed industrial REIT with $3 billion in assets after consolidation with Viva Industrial Trust (VIT).

The implied acquisition yield of 5.8-5.9% for VIT’s portfolio is at the lower end of peers’ range of 5.1-6.8%, reflecting the acquirer’s optimism over longer-term prospects and synergies that the REIT can extract.

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