Source : The Business Times, Wed, September 26, 2007
A group of independent real estate investors are seeking to raise about US$150 million through a Singapore-listed property trust based on residential properties in Japan, sources close to the deal said.
Credit Suisse and Morgan Stanley are arranging the public offer of Saizen Real Estate Investment Trust (Reit), which will be based on a portfolio of residential apartment buildings valued at around US$400 million.
The residential buildings are located in suburban areas out of the main Japanese cities such as Tokyo. Bankers say a pipeline of future acquisitions and steady rental returns are among the investment strengths of the Reit.
'The trust will offer annualised dividend yields of about 6 per cent,' said one banking source. -- REUTERS
No comments:
Post a Comment