Photo source: Mapletree Commercial Trust’s website The era of REIT mergers is far from over. Just last week, Mapletree Commercial Trust (SGX: N2IU), or MCT, and Mapletree North Asia Commercial Trust (SGX: RW0U), or MNACT, announced a S$4.2 billion merger to form a new mega REIT named Mapletree Pan Asia Commercial REIT (MPACT). Just two months ago, two industrial REITs — ESR-REIT (SGX: J91U) and ARA Logos Logistics Trust (SGX: K2LU), announced a S$1.4 billion merger to become Singapore’s fifth-largest industrial REIT. Mapletree’s move also comes more than one year after a mega-merger between CapitaLand Mall Trust and CapitaLand Commercial Trust to form CapitaLand Integrated Commercial Trust (SGX: C38U), or CICT. And two years ago, two REITs, Frasers Logistics & Industrial Trust and Frasers Commercial Trust, both under sponsor Frasers Property Limited (SGX: TQ5), combined to form Frasers Logistics & Commercial Trust (SGX: BUOU). This latest transaction between the Mapletree peers is the latest in a series of mergers that has...