Bigger Is Better for Singapore REITs Facing Consolidation
- Cambridge Industrial says small REITs may merge as costs rise
- Morgan Stanley last year said consolidation was `unavoidable'
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Singapore’s real estate investment trust market is set to consolidate as smaller vehicles merge to cope with rising regulatory costs, according to Cambridge Industrial Trust.
“The wave of consolidation for Singapore REITs is about to begin,” Philip Levinson, chief executive officer at Singapore-listed Cambridge Industrial, said. The trust has a market capitalization of S$730.5 million ($536 million) and focuses on industrial real estate assets.