Soilbuild REIT

Soilbuild REIT: IPO debuts today at 2pm, with units priced at $0.78 per unit (bottom end of range) was 5.4x subscribed. The REIT’s initial portfolio holds seven properties, including two business park developments and five industrial projects. These include Solaris @ one-north, Eightrium @ Changi Business Park, Tuas Connection and West Park BizCentral. Together, they are valued at $935m and have an aggregate gfa of 3.2m sf. Soilbuild REIT unitholders can expect to receive an annualised distribution yield of 7.5% for FY2013 and 7.7% for FY2014. Citigroup Inc., DBS Group Holdings Ltd. (DBS) and OCBC managed the offering.