Transactions - OCTOBER 18, 2021

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ESR-REIT’s proposed merger with ARA LOGOS Logistics Trust to form ESR-LOGOS REIT

by Andrea Zander

ESR Cayman announced that ESR Funds Management (S) Limited (the manager of ESR-REIT) has entered into an agreement with the manager of ARA LOGOS Logistics Trust (ALOG) for the proposed merger of ESR-REIT and ALOG (the proposed merger) under which ALOG will become a wholly-owned subtrust of ESR-REIT, creating future-ready new economy APAC S-REIT named ESR-LOGOS REIT (the Enlarged REIT). The total consideration for the proposed merger is approximately S$1.4 billion ($1 billion).

The proposed merger comes on the heels of ESR’s announcement to acquire 100 percent of the share capital of ARA Asset Management (the ARA Acquisition), which via LOGOS owns 100 percent of the ALOG manager. The ESR-ARA transaction is set to create the largest real asset manager in APAC and the third-largest listed real estate investment manager globally with a combined assets under management of $131 billion.

The Enlarged REIT will hold 87 portfolio properties (including 20 in Australia) and 41

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