K-REIT Asia says its second quarter distribution per unit rose 24.2 per cent to 1.64 Singapore cents compared to a restated DPU of 1.32 cents recorded in the same period last year. Distributable income for the three months ended June, rose 25.5 per cent to about S$22 million due mainly to higher net property income and lower interest expense. For the first half, K-REIT announced a DPU of 2.97 cents, a...
REITS
CapitaCommercial Trust (CCT) is selling the StarHub Centre to Frasers Centrepoint for S$380 million in cash. StarHub Centre is a 10-storey non-Grade A office building with retail space next to FCL's Centrepoint mall. It currently has a committed occupancy of 68.2 per cent and some 280,000 square feet of lettable space. The current lease for the site expires in January 2095. CCT disclosed that it has...
CapitaMalls Asia's Malaysian unit will begin trading on the main market of Bursa Malaysia Securities Friday. CapitaMalls Malaysia Trust, CMMT, raised some 785.2 million ringgit or about S$337.5 million in its initial public offering. It is the largest "pure-play" shopping mall reit in Malaysia by market capitalisation and property value. Upon listing, CMMT is expected to have a market capitalisation of...
Ascendas Real Estate Investment Trust says Net Property Income increased by 8.2% year-on-year to $87.3 million while distributable income rose 3.5% to $63.1 million for the quarter ended June 30 (1Q FY2010/11). Ascendas also achieved a DPU of 3.37 cents for the quarter. Net property income increased by a smaller extent of 8.2% due to higher operating expenses, attributed to the enlarged portfolio, higher...
Mainboard-listed healthcare trust Parkway Life REIT (PLife REIT) has acquired five new nursing home properties in Japan for some S$46.8 million. The properties will be bought from Yugen Kaisha, which is a subsidiary of Kenedix, a real estate asset manager in Japan. PLife REIT had previously acquired 15 nursing home properties from Kenedix. It said it is buying the properties because they are...
CapitaMalls Malaysia Trust, CMMT, a unit of Singapore-listed CapitaMalls Asia, is raising some 852 million ringgit (267 million US dollars) in its initial public offering, IPO. It has fixed its final price for institutional and cornerstone investors at one ringgit per share, while the final retail price is set at 98 sen per unit. The final price is lower than its previous indicative price of 1.08 ringgit...
CapitaMalls Asia (CMA) is buying a Malaysian mall from an associate firm of Metro for S$91.5 million after the Metro unit exercised a put option. The move by Metro's Gurney Plaza requires CMA's CapitaRetail Gurney to buy the property called Gurney Plaza Extension. Located in Penang, Gurney Plaza Extension is a nine storey retail block. It is part of the Gurney Park development and has about 12,500...
Mapletree Investments, the real estate arm of Temasek Holdings, has said it hopes to list two real estate investment trusts (REITs) soon. One of them is an industrial REIT with S$1.73 billion in assets to be listed on the Singapore Exchange by the end of the year. These plans were revealed at the sidelines of Mapletree's results briefing on Wednesday. Mapletree Investments has seen its net profit surge...
Malaysian retail investors can now own a piece of their favourite shopping malls with the planned listing of the country's first pure play shopping mall real estate investment trust. CapitaMalls Malaysia Trust, a unit of Singapore based CapitaMalls Asia, may raise up one billion ringgit (RM) - or US$308 million - through the initial public offering. It is one of the largest IPOs in South-east Asia this...
CapitaMalls Asia (CMA) said its Malaysian unit is launching its prospectus and retail offering on Monday. CapitaMalls Malaysia Trust or CMMT's final retail price will be the lower of its retail offer price of 1.08 ringgit per unit or the institutional price less a discount of 2 sen. At an indicative price of 1.08 ringgit, CMMT said the retail offer will provide a distribution yield of 6.9 per cent. This...