Centurion Accommodation REIT Details Deployment of IPO and Loan Proceeds Into Initial Portfolio

An update from Centurion Accommodation REIT ( (SG:8C8U) ) is now available.

Centurion Accommodation REIT has updated investors on the deployment of funds raised from its initial public offering and related unit subscriptions, as well as borrowings under its loan facilities. The manager reported receiving an additional S$1.1 million refund from a vendor due to post-completion adjustments and using about S$21.3 million to pay the retention sum following the issuance of the temporary occupation permit for Westlite Mandai, alongside approximately S$3.8 million for additional transaction costs. In total, the REIT raised gross proceeds of about S$1,513.0 million from its equity issuance and drew down approximately S$404.8 million from loan facilities, with combined cash proceeds of S$1,917.8 million, of which roughly S$1,788.9 million, inclusive of the refund and retention payment, has been channelled into acquiring its initial portfolio, underscoring continued execution of its growth and deployment strategy.

The most recent analyst rating on (SG:8C8U) stock is a Buy with a S$1.27 price target. To see the full list of analyst forecasts on Centurion Accommodation REIT stock, see the SG:8C8U Stock Forecast page.

More about Centurion Accommodation REIT

Centurion Accommodation REIT is a Singapore-listed real estate investment trust focused on purpose-built accommodation assets. Managed by Centurion Asset Management Pte. Ltd., the REIT targets income-generating properties such as worker and possibly student accommodation, positioning itself within the specialised accommodation and broader real estate investment sector in Singapore and the region.

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