Mainboard-listed Ascendas Real Estate Investment Trust or A-Reit said it will buy three new properties totalling S$228.5 million. It has signed two sale and purchase agreements as well as a memorandum of understanding for the purchase of a property under development. Under one sale and purchase agreement, A-Reit will acquire DBS Asia Hub located at Changi Business Park Crescent for S$116 million. This...
Ascendas Reit
Ascendas REIT said its third quarter distribution per unit (DPU) grew 13.5 per cent. The trust said in a statement that unit-holders will receive 3.27 Singapore cents per unit for the three months ended December, compared with 2.88 cents a year earlier. This came on the back of higher gross revenue which rose 3 per cent to S$105.1 million. Net property income for the period also increased 10 per cent to...
Ascendas Reit said Tuesday it is launching a private placement of new units to raise S$301.6 million in total proceeds. It is placing out 185 million new units at an issue price of between S$1.63 and S$1.70 per unit. At those prices, the new units represent a discount of between 3.4 per cent and 7.4 per cent from the Reit's last closing price of S$1.76. Ascendas Reit said most of the net proceeds or...
Ascendas Real Estate Investment Trust (A-REIT) has said its first-quarter distribution per unit rose nearly 18 per cent due to additional rental income from completed acquisitions. Unit holders will receive 3.62 Singapore cents per unit for the three months ended June, compared with 3.07 cents a year earlier. All in, A-REIT had an income of S$61 million to distribute to unit holders in the first...
Ascendas Real Estate Investment Trust (A-REIT) has booked a 12.6 per cent increase in distributable income to nearly S$211 million for the financial year ended March 31. It also reported a net property income of S$296.6 million, up 21.8 per cent on-year. And though it said that 2009 will be a difficult year, it expects to maintain a similar level of income for the current financial year. This is because...
The sub-prime crisis has intensified the necessary corrections in the property market. But according to Henderson Global Investors, there's an upside to it. The asset management firm, which has some $117 billion worth of assets under its wing, is positive on the medium term outlook for the global property sector. The likelihood of a US recession and the current global credit crisis is hurting investor...