ESR-REIT is a Singapore-focused REIT that invests primarily in industrial properties and business parks. Formerly known as Cambridge Industrial Trust, the trust was renamed following a change in the major shareholder of its manager in 2017. In 2018, it merged with Viva Industrial Trust that focuses on business parks, resulting in an increase in exposure to business parks. Its portfolio consists of 57 properties (including joint ventures), with a valuation of more than SGD 3 billion. Property types include business parks, general industrial, logistics and warehouse, and high specifications industrial properties. The trust is externally managed by ESR Funds Management (S) Limited, which in turn is majority-owned by parent, ESR Cayman Limited, which owns around 9% stake in the trust.