REITS

British and Malayan Trustees as the trustee of Frasers Commercial Trust (FCOT) has entered into an agreement for the sale of a commercial property at 55 Market Street, in Raffles Place for a sale consideration of S$216.8 million. Manager of the trust, Frasers Commercial Asset Management Ltd, said the transaction is expected to be completed by Aug 31, 2018. The sale consideration of S$216.8 million is...

Ascendas Hospitality Trust has on June 15 entered into an agreement with ES-CON Japan via Ascendas Hospitality Real Estate Investment Trust (A-HReit) to acquire three hotels in Japan’s Osaka city for a purchase consideration of 10.29 billion Japanese yen (S$126.1 million). The manager of the hospitality trust said that the acquisition of the three hotels, Hotel WBF Kitasemba West, Hotel WBF Kitasemba...

SUNTEC Real Estate Investment Trust posted on Wednesday a distribution per unit (DPU) of 2.596 Singapore cents for the fourth quarter ended December 31, 2016, 5.6 per cent lower than the DPU of 2.750 cents seen a year ago. Distributable income stood at S$66.1 million, 4.9 per cent lowerthan a year ago. Net property income generated was S$60.7 million, 2.9 per cent lower on year due to the divestment of...

CAMBRIDGE Industrial Trust (CIT) announced on Monday that it has entered into an agreement with RBC Investor Services Trust Singapore Limited for the proposed sale of the remaining leasehold interest in a property located at Ubi for S$22.1 million, excluding divestment costs and application goods and services tax. The five-storey light property, located at 55 Ubi Avenue 3, has a gross floor area of...

NATIONAL Trades Union Congress (NTUC) has emerged as a substantial shareholder of CapitaLand Mall Trust (CMT) after its stake in the retail Reit crossed 5 per cent last week. In a regulatory filing with the Singapore Exchange, CMT disclosed that NTUC's deemed stake went up from 4.9 per cent to 5.04 per cent on Jan 11 following the purchase of 5 million shares for S$10.07 million. CMT units closed 0.5...

BROKERAGES are flagging more volatility for the Singapore real estate investment trust (S-Reit) sector, but they are also calling a "buy" on it. This is mostly because brokerages believe S-Reits still make a good defensive yield play amid growing global uncertainty and slowing growth in major economies. Yield plays gain traction as a safe haven in an unsafe world. S-Reits have also outperformed the...

THE managers of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Reit) are proposing to acquire a light industrial property on 107 Eunos Avenue 3 for S$34.5 million. There is 24 years left on the lease of the property, a newly completed building between Paya Lebar and Eunos MRT stations. The vendor, General Cars Fleet Management, will also provide income support for five years if...

Ascendas REIT (A-REIT) has proposed to acquire the leasehold interest in the property located at 12, 14 and 16 Science Park Drive from its sponsor. The property comprises three built-to-suit Science Park buildings held under a single land title. Two of the buildings are leased to DSO National Laboratories, Singapore’s national defence research & development organisation, while the third building is...

SPH Reit, a real estate investment trust sponsored by media group Singapore Press Holdings (SPH), is interested in adding The Seletar Mall to its portfolio, but time and price are two determining factors. The Reit's chairman Leong Horn Kee shared this on Friday in response to questions from shareholders who wondered if the Reit would purchase The Seletar Mall as it looked to grow the business....

CAMBRIDGE Industrial Trust Management on Monday said it has entered into an agreement with UBZ System for the proposed sale of its remaining leasehold interest in 2 Ubi View for S$10.5 million. According to the manager of Cambridge Industrial Trust (CIT), the proposed sale originated from an "unsolicited offer" from UBZ. The sale consideration represents a premium of about 6 per cent above the...