Asia-Pacific real estate IPOs hit a whopping US$2.54b year-to-date

Diversified property sector raises year's largest amount.

Eleven SNL-covered real estate companies in the Asia-Pacific region have completed IPOs year-to-date in 2014, raising an aggregate of $2.54 billion.

According to a report from SNL Financial, as of July 14, the median total return since the companies' respective IPO dates was 1.70%.

The average gross amount offered for all 11 Asia-Pacific real estate IPOs since the beginning of 2014 was $231.2 million. Meanwhile, the highest- and lowest-grossing IPOs ranged from $25.9 million to $686.6 million.

The diversified property sector raised the largest amount in 2014, with proceeds of $1.61 billion, followed by the hotel sector, which raised $768.5 million.

Here's more from SNL Financial:

The Hong Kong Stock Exchange hosted the most SNL-covered real estate IPOs of the other Asia-Pacific exchanges over the period, with five deals.

The Australian Securities Exchange and Singapore Exchange each hosted two new SNL-covered real estate IPOs over the period.

Frasers Hospitality Trust completed the most recent IPO, on July 10, and trades on the Stock Exchange of Singapore. As of July 14, the company had produced a 1.70% total return since its IPO and outperformed the SNL Asia-Pacific RE index over the same period by 1.75 percentage points. The gross amount of the IPO, including overallotments, was $131.1 million.

DoubleDragon Properties Corp., which completed its IPO on April 1, leads the pack of the Asia-Pacific offerings with the best total return relative to the SNL Asia-Pacific RE index since its IPO. The company's 295% total return from its IPO date through July 14 placed it 288.6 percentage points ahead of the SNL Asia-Pacific RE index.

Hulic Reit Inc., which completed its IPO on Jan. 29, produced the second-best spread against the SNL Asia-Pacific RE index. As of July 14, the company's 51.11% total return since its first trading date was 36.33 percentage points ahead of the SNL Asia-Pacific RE index.

Redco Properties Group Ltd., which completed its IPO and began trading on the Hong Kong Stock Exchange on Jan. 24, bested the SNL Asia-Pacific RE index with a total return of 36.45%, placing it 24.62 percentage points ahead of the index.

Looking at the broader list of all SNL-covered Asia-Pacific real estate IPOs since the beginning of 2014, Sunshine 100 China Holdings Ltd. had a negative 4.50% total return since its IPO date, producing a negative 17.52 percentage-point spread against the SNL Asia-Pacific RE index.