VistaREIT IPO - Bulk Expiries in the near Term and Larger Assets Saw Dwindling Performance
Equity Capital Markets237 Views, 10 May 2022 14:14
EXECUTIVE SUMMARY
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Vista REIT (VR PM) is looking to raise about US$158m in its Philippines IPO. This would be a 100% secondary selldown by the Sponsors.
- VREIT is a Philippine REIT which owns commercial properties, comprising both retail and office properties. The initial portfolio consists of 12 Properties with an aggregate GLA of 256,403.95 sqm.
- VREIT had weathered the effects of COVID relatively well, given its exposure towards essential providers and BPO tenants. However, its larger assets have seen their occupancies dwindle since FY19.