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...
REITS
Singapore's Mapletree Industrial has acquired a property in Tokyo, Japan. Sun East Shinonome Building is Mapletree's first industrial property in Japan. The company, which invests in industrial real estate across Asia, said the acquisition has enabled it to diversify the fund's country portfolio. The Sun East Shinonome Building is a freehold light industrial building with a gross floor area of about...
CapitaCommercial Trust (CCT) said on Tuesday almost half of its leases expiring this year have been renewed. The REIT has also signed on new leases and renewals for an aggregate area of some 336,000 square feet in the first four months of 2009. Key tenants include Legg Mason, BNI, Koufu and parent company, CapitaLand. It gave the update as ratings agency Moody's upgraded its outlook. The ratings agency...
Ratings agency Standard & Poor's said Singapore Real Estate Investment Trusts (S-REITs) can cushion against external shocks in the event the economic downturn is prolonged. In a report, S&P said three factors will offer S-REITs some buffer – cash flow resilience of the underlying properties, strong management of operations and strength of the S-REITs' sponsor or key shareholder. S&P also...
CapitaCommercial Trust, says a total of 1,901.1 million rights units in valid acceptances and excess applications were received at the close of its rights issue on June 24. This represents about 135.4% of the total number of rights units available under the rights issue. On May 22, CapitaCommercial Trust announced a fully-underwritten 1-for-1 renounceable rights issue of 1,403.9 million rights units at an...
Frasers Commercial Trust, Singapore’s third-biggest office property trust, said it plans to buy an office building in the city-state and raise $888.9 million to repay maturing debt. The trust obtained $675 million in two loans and plans to raise $213.9 million selling stock in a three-for-one rights offer, it said in a statement today. Frasers Commercial will offer 2.25 billion shares at 9.5 cents...
Singapore Exchange's Mainboard-listed Frasers Commercial Trust has asked for a trading halt of its units pending an announcement. No further details were given. Back in April, Frasers Commercial Trust had said it was exploring ways to refinance its existing debt, which may include a rights issue. Frasers Centrepoint, which sponsored the trust, is a unit of the Fraser & Neave (F&N) group. F&N...
CapitaCommercial Trust (CCT) said its rights issue was 1.35 times oversubscribed. The trust had launched a 1-for-1 renounceable rights issue of 1.4 billion rights units at 59 cents each. But applications came in for over 1.9 billion rights units. CCT launched the rights issue to raise S$828.3 million, mainly to reduce its existing borrowings. The rest of the proceeds will be used for capital...
CapitaCommercial Trust said on Thursday its S$828-million rights issue has been oversubscribed. The offer closed on Wednesday, and final results will be released soon. CapitaCommercial had launched the rights issue in May, offering one rights unit for every existing unit at 59 cents each. The proceeds from the rights issue are to be used to reduce borrowings and for general corporate and working capital...
Starhill Global Real Estate Investment Trust has proposed a rights issue to raise some S$337 million. It plans to use the proceeds to reduce debt and fund possible acquisitions. The Singapore-listed property trust is controlled by Malaysia's YTL Corp. Under the plan, it will offer unit-holders one new unit for every existing one held, at an issue price of 35 cents per rights unit. YTL, which owns 26.6...