Today we are looking at something monumental. CapitaLand Integrated Commercial Trust, or CICT (SGX: C38U), has just announced an absolutely massive S$6.4 billion asset swap. This transaction was just announced, and I quickly assessed it because it is incredibly significant to many investors, including myself. It is, without a doubt, one of the most substantial and structurally important portfolio reconstitutions we have seen in the Singapore REIT space in recent years. We are going to break down exactly what CICT is buying, what they are selling, how they are funding it, and most importantly, what this means for your portfolio. We will examine the undeniable financial brilliance of this yield arbitrage, but we will also confront the very real, very expensive renovation risks that come attached to this new crown jewel. Before we dive into the numbers and the strategy, a quick reminder that this video is for informational purposes only and not financial advice. Always do your own research and consult a licensed financial adviser before making any investment decisions. I own some of the REITs discussed but what works for me might not work for you. Let’s dive right in....