SGX recently announced that Crowmell Property Group, a global real estate manager, is setting up a REIT in Singapore. This post lists reviews a few things before dropping some money in the IPO. At S$1.6 billion, the IPO is one of the largest REIT IPOs in recent times. Some REITs that listed recently include EC World, Manulife REIT and BHG Retail REIT. Honestly, I had never heard of Forchn Holdings (sponsor of EC World) and BHG (apparently not the same as the BHG department store in Clementi Mall and Bugis Junction according to BHG’s website). And when news broke of Cromwell coming to Singapore, I was wondering, why is SGX attracting sponsors of all shapes and sizes? I do hope that Cromwell does not engage in financial engineering (aka distribution waivers, master-leased arrangements) like other REITs that recently listed. If all goes well, the IPO will take place at the ......