Singapore will likely provide plenty of ABS opportunities in the coming months, according to market sources, as Ascendas Real Estate Investment Trust, established by Ascendas MGM Funds in 2002, last week launched the second deal from its S$1 billion ($607.5 million) Emerald Assets vehicle.
BNP Paribas is arranging the 181 million ($236.9 million) transaction, secured by a S$380 million loan advance held over 23 industrial and commercial properties located in Singapore. The euros denominated deal was widely expected, given the high appetite for Singaporean real estate assets from European investors.
