S$1.2 billion equity fund raising by Ascendas Real Estate Investment Trust
A&G News 23 November 2020
Allen & Gledhill advised Ascendas Funds Management (S) Limited, as manager of Ascendas Real Estate Investment Trust (“Ascendas Reit”, and the manager, “Ascendas Reit Manager”), as transaction counsel, on the approximately S$1.2 billion equity fund raising by Ascendas Reit comprising (a) a private placement of approximately S$800 million and (b) a pro rata and non-renounceable preferential offering of approximately S$396.5 million to, among others, finance the acquisition of certain properties located in the United States of America, Europe and Australia.
The private placement of approximately S$800 million is the largest private placement to date for real estate investment trusts.
Advising the Ascendas Reit Manager were Allen & Gledhill Joint Managing Partner Jerry Koh and Partner Teh Hoe Yue.