CapitaLand Commercial Trust (CCT), Singapore’s largest office real estate investment trust, will acquire the remaining 60 per cent stake it does not own in the CapitaGreen office tower for S$393 million. CCT will buy a 50 per cent share from CapitaLand group and another 10 per cent share from Mitsubishi Estate Asia, the company said in a filing to the Singapore Exchange on Monday (May 23). The...
REITS
THE manager of Frasers Hospitality Real Estate Investment Trust on Friday said the trust will acquire Germany's Maritim Hotel Dresden for 58.4 million euros (S$90.6 million). This is Frasers Hospitality Trust's first hospitality asset in Germany as well as its first acquisition from a third party. Maritim Hotel Dresden is a freehold, 328-room hotel located in the city centre of Dresden, the capital of...
CANADIAN financial services group Manulife has started pre-marketing for an initial public offering (IPO) in Singapore of its US office Reit (real estate investment trust), a plan it had shelved for nine months due to market conditions. It is now said to be aiming for a May 20 listing. A report by FinanceAsia on Tuesday, which cited bankers familiar with the situation, said the deal could raise...
OUE Commercial Reit on Wednesday unveiled a distribution reinvestment plan (DRP), through which unitholders of OUE C-Reit may choose to receive distributions in the form of fully-paid new units, instead of cash. This will enable unitholders to increase their unitholdings without incurring brokerage fees, stamp duties or other related costs, said the Reit. The new plan will also enlarge OUE C-Reit's...
Singapore's real estate investment trust (Reit) market is set to consolidate as smaller vehicles merge to cope with rising regulatory costs, according to Cambridge Industrial Trust (CIT). "The wave of consolidation for Singapore Reits is about to begin," Philip Levinson, chief executive officer at Singapore-listed CIT, said. The trust has a market capitalisation of S$730.5 million and focuses on...
Two private equity firms are weighing separate bids for Ascendas Hospitality Trust, in a deal that could be worth around US$600 million (S$860 million), according to newswire reports on Thursday (Dec 7). Ascendas Hospitality Trust owns a total of 11 hotels in Australia, China, Japan and Singapore. The majority of its properties are in Australia. According to a Reuters report, the two interested...
Ascendas Real Estate Investment Trust (A-REIT) has announced the proposed acquisition of a logistics property located in Sydney, Australia, for A$76.6 million (S$76.6 million), it said in a press release on Thursday (Dec 24). The proposed acquisition will be A-REIT’s 10th logistics facility in Sydney and the 27th in Australia, it added. The property - 6-20 Clunies Ross Street - comprises a modern high...
Ascendas Hospitality Trust (A-HTRUST) said on Wednesday (Dec 23) its managers are reviewing various strategic options after an unnamed party expressed interest in buying the trust. "This follows the recent receipt of an unsolicited expression of interest (EOI) relating to the possible acquisition of all the stapled securities issued by A-HTRUST," the trust said in a stock market filing. "The managers...
SGX broke its mainboard IPO duck this year, welcoming BHG Retail REIT as its first and likely only mainboard listing in 2015 on Friday (Dec 11). BHG Retail REIT has five retail properties, with another 12 in the pipeline, all located in China. It is the first REIT backed by a Chinese-based group to be listed in Singapore. BHG Retail REIT's five retail properties are in key cities Beijing, Chengdu,...
Funan DigitaLife Mall on North Bridge Road - a shopping centre primarily known for shops selling computers and other electronic gadgets - will be closed from the third quarter of 2016, to be redeveloped into a "creative hub". The mall will be closed for about three years, said CapitaLand Mall Trust Management in a press release on Thursday (Dec 10). The real estate investment trust had hinted at such...