There has been a spate of REIT mergers recently. This wave of mergers signals the need for REITs to consolidate their operations to achieve cost savings and to scale up quickly in size. ESR-REIT (SGX:J91U) and ARA Logos Logistics Trust (SGX:K2LU) are the latest to announce a S$1.4 billion merger on 15 October. The enlarged REIT will become Singapore’s fifth largest industrial REIT by asset size and is to be named ESR-LOGOS REIT. Here are five things that investors should know about the ESR-REIT and ARA Logos merger. 1. Mechanics of the deal ARA Logos Logistics Trust unitholders will be offered both a cash and stock consideration for their holdings in the REIT. For every 1,000 units of the REIT, unitholders will receive S$95 in cash and 1,676 units of ESR-REIT in exchange. Of note, the new ESR-REIT units will be issued as a unit price of S$0.51, which presents the 52-week share price high for the REIT....