Brookfield Asset Management sees the potential for more property acquisitions from real estate investment trusts (Reits) in Singapore after its first deal in the city-state.

Many listed Reits in the country are trading at discounts to their net asset value, said Andrew Burych, managing partner and head of East Asia for the Canadian investment giant’s real estate group.

It’s “pretty interesting to work with these Reits to see if there are transactions we can do with them, so that they can recycle the capital into more core businesses,” he said.