Mainboard-listed Macquarie MEAG Prime REIT (MMP REIT) has booked a distributable income of S$17 million for the first quarter, up nearly 22 per cent compared to the same period a year ago. MMP REIT said that its earnings were driven by attractive acquisitions, tenancy remix as well as asset enhancement initiatives. The REIT saw strong rental rates in Singapore. Its retail space was at full occupancy,...
Macquarie Meag Prime REIT
The strategic review of Macquarie MEAG Prime REIT or MMP REIT is still ongoing. This is according to a filing with the SGX on Friday. It said that key shareholder Macquarie Real Estate continues to support the review. In February, Macquarie Pacific Star, the manager of MMMP REIT, announced that it was conducting a strategic review to maximise value for its unitholders. This was after unsolicited offers...
Ratings agency Moody's Investors Service has placed two key debt ratings for Macquarie MEAG Prime REIT (MMP REIT) under review for possible downgrade. The ratings in question are MMP REIT's Baa1 corporate family and Baa2 senior unsecured debt ratings. Moody's says the move has been prompted by MMP's announcement on 19 February to undertake a comprehensive strategic review of the REIT. The review seeks...
There has been a number of unsolicited offers for Macquarie MEAG Prime (MMP) REIT, and one of them involves buying 100 percent of MMP REIT units and taking the trust private. The trust's manager, Macquarie Pacific Star, says it will now conduct a strategic review of the trust to maximise value for its unit-holders. MMP REIT has been trading at a substantial discount to its net asset value of S$1.61 a...
Companies wary of acquisitions amid market uncertainty EVEN as property prices come off their peaks, sector participants are keeping cautious, with Macquarie MEAG Prime Reit’s manager becoming the latest to say it will hold off making acquisitions for now. The uncertain mood brought on by turbulence and volatility in financial markets is curbing enthusiasm for property around the world. “We have...