Senja Close EC™

Experience luxury and comfort at Senja Close EC, where every corner is thoughtfully designed to provide the best living experience. The spacious living space is adorned with top-notch furnishings, making it an ideal home for families. Its three levels of facilities are meticulously planned to offer five curated lifestyle zones, catering to all your needs and preferences. Not only that, but the layout is also functional for those who work from home, making it a perfect blend of work and leisure. Plus, the inclusion of a broom closet adds convenience by providing a designated space for storing cleaning supplies.

The IPO of Centurion Accommodation REIT (CAREIT) was highly oversubscribed, with a total of 262,160,900 units sold at a price of $0.88 each. The offering raised a total of $771.1 million and is expected to provide investors with a projected distribution yield of 7.47% for 2026 and 8.11% for 2027.

The international placement for the IPO consisted of 248,960,900 units sold to investors outside the United States, while the remaining 13,200,000 units were offered to the public in Singapore. This includes an overallotment option of up to 51,137,000 units.

The placement tranche received an indication of interest that was 16 times the number of units available, and the Singapore public offer was oversubscribed by approximately 30.9 times. This resulted in a total oversubscription rate of 16.6 times for the 262,160,900 units offered.

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Joint chairman of Centurion Corporation, David Loh, and Han Seng Juan have each acquired 10 million and 6 million units, respectively. Other individuals, including Christine Loh, Daphne Loh, Hong Wen Yee, Loh Loy Ming, and Ivy Loh, have also purchased a few thousand units each in CAREIT and are immediate family members of David Loh. In the event that the overallotment option is fully exercised, Loh and Han’s interest in CAREIT would be deemed to be 746,317,100 units each.

The REIT has also secured 16 cornerstone investors, who have subscribed for a total of 614 million units, accounting for 35.7% of the total. These investors include FIL Investment Management (Hong Kong), abrdn Asia, Amova Asset Management Asia, Asdew Acquisitions, B&I Capital, Barings Singapore, Cohen & Steers Asia, DBS Bank, DBS Bank on behalf of wealth management clients, DWS Investments Australia, Eastspring Investments (Singapore), Lion Global Investors, Principal Global Investors (Singapore), UBS on behalf of clients, and Value Partners Hong Kong, as well as Ong Pang Aik, chairman of previously listed Lian Beng Group.

“The overwhelming support from cornerstone, institutional, and retail investors is a strong validation of our vision to offer investors access to a resilient, high-quality portfolio that consistently generates stable cash flows,” says Tony Bin, CEO of the manager.

He adds, “With the strong backing of our dedicated sponsor, who has a proven track record of investing in, developing, owning, and managing quality specialized accommodation assets, we will be able to leverage on their deep local market experience, networks, and insights to manage and grow the REIT’s portfolio.”

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The units in CAREIT are set to begin trading on Thursday, September 25 at 2pm.