The REIT could spend as much as $600m in deals, and it won’t be in Singapore.

Keppel DC REIT is expected to spend as much as $600m in acquisitions in FY2020, with their buys likely coming from Europe and Australia, reports DBS Group Research.

DBS analyst Derek Tan revised the acquisition forecast upwards from $350m previously after taking into account the company’s current yield of c. 3.3%. The projection equals more than a 20% growth in portfolio.