SoilBuild REIT has a good yield of 7.50% although there are better in the market e.g. Sabana REIT which is trading at 8.5%. Moreover, its price-to-book ratio is below one which is good. Cambridge is also trading at this level currently. Gearing is at 31.7% which is healthy. Overall, it seems ok.
Nevertheless, it is not priced at the top end of $0.80 which means that there is not enough demand. However, it is also not priced at the lowest end of $0.77 which means $0.78 is quite fairly valued. I won't be applying for this IPO because I know that it will not move beyond its IPO price. (like what happened to OUE Trust which is trading at $0.88).