REITS

Sabana Reit Q2 DPU falls 24.4%, to start AEI for New Tech Park

Loss of income from a recently divested property, absence of a one-time recovery of costs for another, plus lower revenue and net property income (NPI) due to a challenging market, dampened results for industrial property owner Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) in its second quarter. Distribution per unit (DPU) shrank to 0.62 Singapore cent from 0.82...

CCT to buy German office building from CapitaLand, Lum Chang for 133.4m euros

CapitaLand Commercial Trust (CCT) will acquire an effective 94.9 per cent interest in the holding companies of a freehold office building in Frankfurt, Germany, from its sponsor CapitaLand and Lum Chang Holdings. The purchase consideration will be 133.4 million euros (S$205.3 million), the manager of the real estate investment trust (Reit) said on Wednesday morning. The property, Main Airport Center...

Suntec REIT buys Australian freehold Grade A office for $141.51m

SUNTEC Reit has expanded its presence in Australia with its latest acquisition of the entire stake in a freehold Grade A office building in Adelaide for A$148.3 million (S$141.4 million). The 12-storey property has an NLA of 282,000 sqft and a committed occupancy of 91.6%. The property at 55 Currie Street has an approximate net lettable area (NLA) of 282,000 sqft and had undergone refurbishment,...

Mapletree Industrial Trust to start its largest redevelopment project costing S$263m

Mapletree Industrial Trust (MIT) plans to redevelop a flatted-factory cluster at Kallang Way into a high-tech industrial precinct at a total project cost of about S$263 million, the manager of the mainboard-listed real estate industrial trust (Reit) said. This will be MIT’s largest redevelopment project to date, and is another strategic step in growing its high-tech buildings segment, the manager...

CapitaLand to merge Ascott Reit, Ascendas unit to form largest hospitality trust in Asia-Pacific

Singapore's CapitaLand will combine Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST) to form the largest hospitality trust in the Asia-Pacific region, it was announced on Wednesday (Jul 3). The proposed combination will result in the combined entity becoming the eighth largest hospitality trust globally, with an asset value of S$7.6 billion, the two trusts announced in a...

MAS seeks views on raising 45% leverage limits for S-Reits

In a move to enable Singapore real estate investment trusts (S-Reits) to better compete against private capital and foreign Reits when making real estate acquisitions, the Monetary Authority of Singapore (MAS) is considering raising their current leverage limit of 45 per cent. Leverage, defined as the debt-to-asset ratio, measures how well-capitalised a company is. The central bank on Tuesday...

Starhill Global Reit maintains rents under Ngee Ann City’s Toshin master lease

Starhill Global Reit is keeping the base rent unchanged for the Toshin master lease at Ngee Ann City for the next three years starting from June 8, 2019, under its latest rent review, the real estate investment trust’s (Reit) manager announced on Saturday in a bourse filing. Toshin is the master tenant occupying all retail areas except level five of Ngee Ann City for the 12-year period from June 8,...

Sabana Reit refreshes strategies to reshape future

Real estate veteran Donald Han is a tireless proponent of all things real estate. "If you slit my vein open, you will see nothing but real estate DNA there," quipped the chief executive officer of the manager of SGX-listed Sabana Reit. "I'm not someone who understands or is interested in commodities, gold, or crypto-currencies, but I think, eat, drink and sleep real estate," he grinned. Mr Han,...

ARA US Hospitality Trust seeks to raise US$451 million in Singapore IPO

ARA US Hospitality Trust launched an initial public offering in Singapore on Thursday to raise about US$451 million, for what would be the first new mainboard listing on the local bourse this year. The trust, which owns a portfolio of 38 US hotels, has set an offer price of 88 cents apiece, according to the float prospectus. It has secured commitments for US$116.5 million worth of the shares on offer...

Suntec Reit raises S$200m in private placement

Suntec Real Estate Investment Trust's (Suntec Reit) manager has closed the book of orders for its private placement of new units in the Reit to raise gross proceeds of about S$200 million. The bulk of the proceeds will go towards financing potential acquisitions of properties in Australia, ARA Trust Management (Suntec) Limited said on Thursday before the market opened. On Wednesday night, the...

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