Patient Capital is Smart Capital "Singapore has established itself as a hub for real estate investment trusts over the past two decades. Now, following the initial blow from the Covid-19 outbreak, its REITs are slowly coming back to the market with a mission: resume their global expansion.
Gordon Tang and his wife Celine, who have one of the biggest REIT stakes in Singapore, are among those leading the charge. Suntec Real Estate Investment Trust, of which they own about one-tenth, completed the acquisition of a 50% holding in a London property last month, finalizing a 430.6 million pound ($557 million) deal that had been put on hold with the pandemic.
Lippo Malls Indonesia Retail Trust and IREIT Global, in which Chinese tycoon Tong Jinquan owns stakes of more than 4.8%, are raising money to fund acquisitions in Indonesia and Spain. Keppel REIT and Ascendas REIT both bought office properties in Australia in September.
Like many other industries, REITs have been hit hard during the pandemic. More than $340 billion of value has been wiped out this year from an index tracking them globally as employees emptied out offices in major cities and shoppers turned to e-commerce. For retail and office properties in financial centers from New York to London and Paris, the future remains grim as companies order employees to stay home and restrictions on movement are reintroduced to prevent a winter surge in cases. Only 15% of office workers in New York are projected to return by the end of 2020."
... remainder of article: https://www.bloomberg.com/news/articles/2020-11-01/a-reit-powerhouse-is-going-global-again-after-340-billion-blow?srnd=markets-vp