First Reit kick-starts pivot into developed markets with maiden Japan acquisition

AFTER a tumultuous restructuring and recapitalisation exercise that was mooted around the end of 2020 and completed in May this year, First Real Estate Investment Trust (First Reit) stands ready to embark on the next phase of its growth strategy.

Speaking at a briefing on Wednesday (Dec 8), Christopher Williams, chairman of the Reit manager, described the restructuring as a "painful decision".

"We have since been able to stabilise performance and turn the ship around. Today, we are proud that not less than 12 months into our restructuring, we are ready to talk about growth."