Wednesday, March 23, 2011
SG Reits: Credit Suisse has REITs report. Expect M&A to continue driving office REITs. Note of recent acqusitions, e.g Alpha Investment Partners and NTUC Income, who jointly acquire Capital Square for $2,300 psf and K-REIT has raised its stake in Pru Tower from 73.4% strata interest to 92.8%, at $125.1m and Lucrum Capital, who sold OFG to a private group for $2,520 psf. Believe M&A could continue to drive momentum for: K-REIT, CCT and Suntec.