ESR Completes ARA Asset Management Takeover
ESR Cayman completed its 100% acquisition of ARA Asset Management for $5.2bn, less than three months after its shareholders approved the deal. Following the acquisition, ESR is now the world’s third-largest listed real estate investment manager with gross AUM of...
ESR REIT, Mapletree Industrial Trust & Keppel REIT Report Results
ESR REIT reported a 1.7% YoY increase in distribution per unit (DPU) to S$0.00712 for Q3 on the back of a 7.2% YoY increase in gross revenues to S$61.1mn and an 8.6% rise in net property income (NPI) to S$43.9mn. The manager attributed the growth to the acquisition of...
ESR REIT Plans SGD Perp as part of ARA LOGOS Acquisition Plan
ESR REIT is expected to issue new debt including an SGD-denominated Perp as part of its ARA Logos acquisition plan as per IFR. ESR REIT plans to refinance all of ARA Logos’ existing debt plus related interest rate swaps worth ~S$87.9mn ($65.3mn), as well as...
