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

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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