K-REIT Asia on Monday said its second-quarter distribution per unit (DPU) rose 17.7 per cent to 1.93 cents compared to a DPU of 1.64 cents recorded in the same period last year. Distributable income for the three months ended June rose 19.7 per cent to S$26.3 million. For the first half, K-REIT announced a DPU of 3.72 cents, a 25.3 per cent increase on-year. Distributable income for the first half came...
REITS
Mainboard-listed Global Logistic Properties (GLP) on Monday said it has signed a long-term lease agreement with DHL Supply Chain, a Japanese subsidiary of logistics firm DHL group. This would be the third lease agreement that DHL group has with GLP in Japan, bringing GLP's overall Japan portfolio to 99 per cent leased. GLP said it sees robust demand for modern logistics facilities. It added that with...
Far East Organization (FEO) will likely raise at least S$500 million through the listing of some of its hotel and serviced residence assets in a real estate investment trust (Reit) next year, according to sources with direct knowledge of the deal. Singapore’s Reit market has been attracting listings at a time when investors are looking for stable yields in the midst of market volatility and...
Mainboard-listed CapitaRetail China Trust (CRCT) announced yesterday net property income of 108.1 million yuan (S$20.6 million) for the second quarter, an increase of 11.3 per cent from the corresponding period last year. But CRCT's performance in Singapore dollar terms was much lower, rising only 4.1 per cent as a result of the strength of the local unit versus its Chinese counterpart. Gross revenue was...
There is a possibility of a glut of new office space in the near future, and this will put pressure on rental reversion. However, this has not stopped Japan's Mitsubishi Estate Asia (MEA) from acquiring a 10 per cent stake in the redevelopment of Market Street Car Park. Together with CapitaLand and CapitaCommercial Trust (CCT), the Japanese real estate company will transform the car park into a Grade A...
CapitaMalls Malaysia Trust (CMMT) has recorded distribution per unit (DPU) of 2.00 Malaysian cents for the second quarter of this year from April 1 to June 30. This is 8.1 per cent higher than the forecast DPU of 1.85 Malaysian cents for the quarter and was achieved on the back of gross revenue of S$23.2 million (RM57.2 million). The annualised DPU of 8.02 Malaysian cents is 8.1 per cent above the...
Mapletree Logistics on Thursday said it has successfully divested a property located at 39 Tampines Street 92. In a stock exchange filing, Mapletree Logistics said the property was sold for S$14.7 million. Around S$13.8 million of this will be redeployed to partially fund the acquisition of Jian Huang Building 1. That amount is equivalent to the original acquisition cost of the property. The company...
Property developer Ascendas Group has said it is looking at listing a new fund, but is still weighing all options before it makes a decision. This came in response to a report by South China Morning Post about its plans to list a yuan-denominated real estate investment trust (REIT) of its China property assets in Hong Kong. The move is said to be in line with the growing interest in renminbi products and...
Global Logistic Properties (GLP), which owns warehouses in China and Japan, said that it had submitted a bid to acquire a portfolio of over 20 industrial assets in Japan from LaSalle Investment Management, confirming earlier media reports. If its bid is successful, GLP, partly owned by Government of Singapore Investment Corporation (GIC), expects to acquire the portfolio in a fund structure with one or...
Singapore's Global Logistic Properties (GLP) is in final negotiations to buy LaSalle Investment Management's Japanese portfolio of real estate that could fetch up to ¥140 billion (S$2.12 billion), according to people familiar with the matter. If successful, the acquisition would be the biggest property deal in Japan in two years, It would also mark the single biggest foreign investment into Japan since...