Singapore stock briefs Friday: Mapletree Industrial, Prime US REIT, Far East Group

Mapletree Industrial Trust property at 18 Tai Seng in SingaporeMapletree Industrial Trust property at 18 Tai Seng in Singapore

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.

Follow Shenton Wire on Telegram to receive alerts on your phone


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.

Read more: Prime US REIT to acquire 2 US office properties for around US$246M

Far East Group

Far East Group requested a trading halt before the market open Friday, pending an announcement.