Singapore: First REIT crashes on plans to restructure hospital rents

Shares in First REIT, Singapore’s first listed healthcare real estate investment trust, slumped as much as 30% at one point after it announced plans to restructure its hospital rental structure. Parent Lippo Karawaci said that the Covid-19 pandemic had “significantly impacted Siloam’s revenues and led to a drastic decline in patient volumes across Indonesia.” Listed…