- Centurion Accommodation REIT will offer 262mil units priced at S$0.88 each. There will be 1,719mil total units in issue following its listing, valuing the REIT at S$1,513mil in equity value. Following Centurion Accommodation REIT’s target listing on 1 Oct 2025, Centurion will own a 45% stake in Centurion Accommodation REIT.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Key Highlights
Centurion Shareholders vote in favour of Centurion Accommodation REIT’s divestment at its EGM on 10 Sep 2025.
- Centurion Accommodation REIT’s portfolio will include 14 assets comprising five purpose-built worker accommodation (PBWA) in Singapore, eight purpose-built student accommodation (PBSA) in the UK and one PBSA in Australia. Centurion Accommodation REIT’s acquisition of the 732-bed Epiisod Macquarie Park PBSA in Australia will only take place after the REIT’s listing date.
- Centurion will wholly own the manager and property managers of Centurion Accommodation REIT. We expect FY26e management fees to be S$11.6mil based on the prospectus, charging base fees of 10% per annum of Centurion Accommodation REIT’s annual distributable income and performance fees equal to 25% of the increase in DPU per financial year.
- We estimate the dividend in specie payout for Centurion shareholders to be about S$113.5mil at midpoint, ~7.5% of market capitalization.
Centurion Accommodation REIT will offer 262mil units for subscription, each priced at S$0.88.
- Read more at SGinvestors.io.
