In what is to be one of the recent biggest news in the REIT scene, Frasers Centrepoint Trust (FCT) is going to acquire the remaining 63.1% of the AsiaRetail Fund (ARF) assets in Singapore, which comprises of Century Square and Tampines 1 in Tampines, Hougang Mall in Hougang, Tiong Bahru Plaza and Central Plaza in Tiong Bahru, and White Sands in Pasir Ris. Also announced in the news is the divestment of Bedok Point to their sponsor Frasers Property for about SGD 108 million. Finance wise, FCT is proposing to raise about SGD 1.39 billion via equity, in the form of private placement and/or preferential offering, to fund the acquisition and to repay existing debt. Post-acquisition and divestment, on a pro forma basis there would be an 8.59% distribution per unit accretion and the net asset value of FCT would be at SGD 2.21. The acquisition also marks FCT’s first foray into offices in the form of Central Plaza, which contributed about 4.9% of the net property income (NPI)...