During an analyst and investor briefing on Aug 20, ESR Cayman’s management received a few questions on its plans for ARA Asset Management’s REITs, given that not all the latter’s businesses provided synergies.
Indeed, during an interview with The Edge Singapore, and also in various briefings, ESR Cayman chairman Jeffrey Perlman articulated that Logos is the jewel in ARA’s crown. With Logos, ESR Cayman’s development work in progress doubles to US$10 billion ($13.5 billion).
“We think Logos is much more complementary than competitive, and offers what we call kind of two-headed dragon in terms of the opportunity. Australia was a great example. In the last six months, we were able to acquire both the landmark milestone acquisitions under ESR, whereas Logos was able to secure the largest development opportunity in Australia. The combination of those in just the six-month period, we feel, would be something that even as one platform, we would not have been able to probably do,” Perlman describes.
