Prime US REIT announced that it has used about 32.4 million Singapore dollars—roughly 95.2% of the 34.0 million Singapore dollars raised from its recent private placement—to reduce outstanding borrowings.
The real estate investment trust said a further 0.8 million Singapore dollars, representing around 2.4% of the gross proceeds, has been allocated to cover estimated professional fees and other expenses related to the placement.
The manager added that it will provide additional updates as and when the balance of the funds is materially deployed. The private placement, completed earlier, issued 129.199 million new units and raised total gross proceeds equivalent to approximately 34.0 million Singapore dollars.
The announcement was dated Oct, 11 2025.