KBS Realty said to be considering US$1 bil REIT IPO in Singapore

SINGAPORE (July 26): KBS Realty Advisors, a US-based commercial property owner, is considering its second real estate investment trust listing in Singapore, people with knowledge of the matter said.

The company aims to raise at least US$1 billion ($1.36 billion) from a potential sale of trust units backed by at least 15 prime commercial properties, the people said. A possible initial public offering could take place in the fourth quarter, said the people, who asked not to be identified because the details are private.

KBS, which partnered Keppel Corp’s asset management arm on a Singapore listing last year, is in talks with firms based in the city-state to find possible co-sponsors for a second REIT, one of the people said.

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