These are stock news briefs for Friday 23 July 2021: Mapletree Industrial Trust, Prime US REIT and Far East Group.
Mapletree Industrial Trust
Mapletree Industrial Trust said Friday it has completed the acquisition of 29 data centers in the U.S. for around US$1.34 billion, including expenses.
In addition, out of the gross proceeds of around S$823.3 million from an equity fund raising, S$723.9 million was used to partially finance the acquisition, around S$85.5 million was used to repay debt and around S$13.9 million was used for fees related to the fund raising, the trust said in a filing to SGX.
Prime US REIT
Prime US REIT has completed the acquisition of Sorrento Towers, located in San Diego, California, the REIT’s manager, KBS US Prime Property Management, said in a filing to SGX Friday.
The acquisition was funded by bank debt, the REIT said.
Far East Group
Far East Group requested a trading halt before the market open Friday, pending an announcement.