Cambridge Industrial Trust changes name to ESR-REIT from Friday

Singapore

CAMBRIDGE Industrial Trust (CIT) Management Limited and Cambridge Industrial Trust will change their names to ESR Funds Management (S) Limited and ESR-REIT respectively from Friday.

The Reit's short trading name on the Singapore Exchange (SGX) will also be changed to ESR-REIT with effect from 9am on Friday.

Announcing this on Wednesday, the trust management's chief executive officer and executive director Adrian Chui said the name change signifies the importance of the Reit as part of the e-Shang Redwood Group's (ESR) business activities and its continued support.

"As a leading pan-Asia logistics and industrial developer, owner, operator and fund manager, ESR has a strong track record and presence in the Asia-Pacific logistics and industrial real estate sector. Our ties with them will enable us to leverage on shared networks and expertise for our tenants, have greater resources to support the Reit's continued expansion efforts via asset acquisitions and development projects, and be well-poised to take on the next stage of growth for our unitholders," he said.

e-Shang Infinity Cayman Limited, a subsidiary of ESR, bought the aggregate 80 per cent indirect interest in CIT Management from nabInvest Capital Partners Pte Ltd and CREIM Limited in January.

The transaction also included e-Shang Infinity acquiring a 100 per cent indirect interest in Cambridge Industrial Property Management, the property manager of CIT.

ESR is a pan-Asia logistics real estate developer, owner and operator, formed as a result of a merger between e-Shang and the Redwood Group in 2016. Since the merger, ESR has emerged to become the second- largest developer in North Asia with more than US$5 billion of assets under management across China, South Korea and Japan.