Centurion Corporation (SGX: OU8)
Another new REIT looks set to debut on the mainboard of the Singapore Exchange (SGX: S68) after the successful IPO of NTT DC REIT (SGX: NTDU).
Centurion, which owns and operates a portfolio of purpose-built worker accommodation (PBWA) and student accommodation (PBSA) assets, applied on 14 July for a REIT to be listed.
This REIT will be named Centurion Accommodation REIT.
The new REIT will have an initial portfolio of 14 properties comprising five PBWA in Singapore, eight PBSA in Britain, and one PBSA in Australia.
Centurion Corporation will then acquire one more PBSA in Australia when it is ready for occupation, bringing the total to 15.
After this acquisition, the portfolio’s value will be S$2.1 billion.
Centurion Corporation will retain a stake in Centurion Accommodation REIT while distributing some of the REIT’s units to shareholders via a dividend-in-specie….
