Centurion Accommodation REIT (CAREIT) has successfully completed its Initial Public Offering (IPO), with the offering being oversubscribed by 16.6 times. The IPO, which raised approximately $563.5m (S$771.12m), marks Singapore’s first pure-play purpose-built living accommodation real estate investment trust. The offering included an international placement and a public offer in Singapore, both of which saw robust demand from investors.
The public offer in Singapore was particularly notable, being oversubscribed by 30.9 times, the strongest response in recent years. The international placement tranche was also well-received, being 16 times oversubscribed, attracting interest from institutional investors, real estate specialist funds, and high net-worth individuals. The offering price was set at $0.64 (S$0.88) per unit.
Tony Bin, CEO of Centurion Asset Management, expressed gratitude for the overwhelming support, stating, “The all-round support from Cornerstone, institutional, and retail investors is a powerful endorsement of our vision to provide investors access to a resilient, high-quality portfolio consistently generating stable cash flows.”
The REIT has secured commitments from 16 cornerstone investors, including prominent names such as FIL Investment Management and abrdn Asia Limited, collectively subscribing for 35.7% of the total units.
Trading of CAREIT units on the Singapore Exchange is set to commence on 25 September 2025. The projected distribution yield for the REIT is 7.47% for 2026 and 8.11% for 2027, promising stable returns for investors.
