CACHE Logistics Trust on Monday said that it has signed a deal with Agility International Logistics for the proposed divestment of Cache Changi Districentre 3 for S$25.5 million. This price is in line with the independent valuation by CBRE on Nov 30, 2016. Cache Changi Districentre 3 is located in the Changi International LogisPark (North) and has a remaining land lease of about 17 years. The...
Cache Logistics Trust
The proposed acquisition of Pandan Logistics Hub from CWT Limited is expected to boost Cache Logistics Trust's total assets under management to S$944 million. In a statement, ARA-CWT Trust Management Limited, manager of Cache Logistics Trust, said the acquisition is the largest that Cache has made to date. Cache has proposed to acquire Pandan Logistics Hub from CWT for S$66 million. On completion of the...
Cache Logistics Trust has purchased two Singapore properties for about S$39.8 million, said the trust's manager, ARA-CWT Trust Management. The properties are a 177,000 square feet two-storey ramp-up warehouse with a mezzanine office in Changi North International Logispark, and a 55,000 square feet single-storey warehouse with an extended two-storey office annex for the storage of chemical and dangerous...
Cache Logistics Trust reported a distribution per unit (DPU) of 5.588 cents - 1.2 per cent higher than its own forecast. According to its financial statement for the period from April 12 - when it started operations - to December 31, net property income and gross revenue stood at $41.4 million and $42.4 million respectively. The trust operates on a master lease structure, which aims to provide a high...
Cache Logistics Trust has posted a distribution per unit (DPU) of 1.94 Singapore cents for the fiscal third quarter and net property income for the quarter was S$14.36 million. This represents an increase of around 13.5 per cent when compared with the previous quarter. Meanwhile, distributable income came in at S$12.3 million, a 13.5 per cent increase from the quarter before. The Cache portfolio...
Indian firms Unitech, DLF revisiting prior shelved offerings The success of Singapore's Cache Logistics Trust offering this month has prompted talk that other similar, previously shelved real estate investment trust (Reit) offerings are now being dusted off. India's top real estate firms, DLF Ltd and Unitech Ltd may revive their Singapore IPO plans, banking sources said, while the Embassy Group is...
Cache Logistics Trust (CLT), the first pure logistics real estate investment trust (Reit) to be launched in 2.5 years, had a bright debut in the Singapore Exchange (SGX) on Monday. The counter ended its first trading day at 95.5 cents up 8.5 per cent from its offer price of 88 cents. The stock also hit as high as 99.5 cents during intra-day trading before some profit taking activity pared off part of its...
ANOTHER real estate investment trust (Reit) is headed for the local bourse, this time focusing on logistics properties. Cache Logistics Trust plans to raise $417.2 million through an initial public offering (IPO) of 474.1 million units. Of these, 41 million units will be offered to the public. It is the first Reit to list on the SGX mainboard after the recent global financial crisis - and it is set to...
Cache Logistics Trust prospectus says 474.2m units will be offered at 84-88 cents each CACHE Logistics Trust has lodged its listing prospectus with the Monetary Authority of Singapore, revealing that the new Reit hopes to raise about $400 million through its IPO. According to the prospectus, Cache is offering 474.2 million units at 84 to 88 cents each. A distribution yield in the range of 8.82-9.08 per...
Mainboard-listed ARA Asset Management and CWT said their joint venture REIT has obtained a letter of eligibility to list its units on the Singapore Exchange (SGX). The joint venture REIT, called Cache Logistics Trust or CLT, will invest principally in logistics properties in the Asia Pacific region. It will be managed by ARA-CWT Trust Management, which is 60 per cent owned by ARA and 40 per cent by...