Bankers’ best friends in race to raise equity

Goola Warden
Goola Warden12/16/2021 04:04 PM GMT+08  • 9 min read
Bankers’ best friends in race to raise equity
REITs are seen as bankers' best friends after raising $4.2 billion in equity and $1.1 billion in perps in 2021
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About three years ago, we summed up the ‘Year in REITs’ as being ‘Bankers’ Best Friends’ because of their equity raising requirements and prowess. Case in point: in 2021 so far, REITs have raised at least $1.1 billion in perpetual securities which are considered as equity under certain conditions, just under $3 billion in placements excluding First REIT, and around $982 million in preferential equity fund raising (EFR), including First REIT (announced in 3Q2020 but completed in February). Altogether, REITs have raised around $4.2 billion in equity, excluding perpetual securities.

By contrast, IPOs have only raised $1.65 billion. The largest two IPOs are Digital Core REIT which raised US$600 million ($819 million), and Daiwa House Logistics Trust which raked in $464.4 million.

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