Centurion Accommodation REIT (CAREIT) has made a robust debut on the Singapore Exchange, closing at S$0.96 per unit, 9.1% above its initial public offering (IPO) price of S$0.88. Over 82 million units were traded on the first day, marking a significant entry for Singapore’s first pure-play purpose-built living accommodation REIT.
The IPO, managed by Centurion Asset Management Pte. Ltd., raised approximately S$771.1m. The offering saw strong demand, with the international placement of 248,960,900 units being 16 times oversubscribed, and the public offering in Singapore being 30.9 times oversubscribed. This high level of interest underscores the market’s confidence in CAREIT’s investment strategy.
CAREIT’s initial portfolio, valued at approximately S$1.84b, includes 14 assets across Singapore, the UK, and Australia. With the acquisition of EPIISOD Macquarie Park in Australia, the portfolio expands to 15 properties valued at S$2.12b. The REIT aims to deliver sustainable distributions and robust returns through organic growth and strategic acquisitions.
The successful listing of CAREIT not only highlights the demand for specialised accommodation investments but also sets a precedent for future REIT offerings in the region. As CAREIT continues to expand, it is poised to play a significant role in the global accommodation market.
