Prime US REIT to raise $32m via private placement

New units to be issued at $0.25–$0.26 per unit.

Prime US REIT will raise at least $32.2m (US$25m) through a private placement of new units priced between $0.25 (US$0.1935) and $0.26 (US$0.2000) each.

The placement is fully underwritten by DBS Bank and Maybank Securities and will be offered to institutional and accredited investors. Final pricing will be set after a book-building process.

The price range represents a discount of 7.0% to 10.0% to the last traded VWAP of $0.28 ($0.2150). About $31.2m ($24.2m), or 96.8% of the proceeds, will fund capital expenditure, tenant incentives and leasing costs to activate new leases and retain tenants. Around $1.0m (US$0.8m), or 3.2%, will cover fees and expenses.

The move supports stronger leasing activity, with over 400,000 sq ft of leases signed in 1H2025 and occupancy rising to 80.2%.

The funds will help activate leases and back another 150,000 sq ft in advanced negotiations, aiming to lift the REIT’s distribution payout ratio to at least 50% in 2H2025.

The placement will also lower aggregate leverage from 46.7% to about 45.9%, increase trading liquidity, and enlarge the unitholder base with roughly 127 million new units expected to be issued.

An advanced distribution of 50% of distributable income from 1 July to 5 October 2025 will be paid to existing unitholders before the new units are issued.

Listing of the new units on the SGX is targeted for 6 October 2025.

A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia