Ascott Residence Trust (Ascott REIT) will acquire a prime property in Times Square, New York for US$163.5 million (S$220.7 million), it announced in a news release on Thursday (Jul 2). The acquisition – the REIT's first in US – of the 411-room Element New York Times Square West hotel will yield an EBITDA of 6.2 per cent, and it is expected to increase Ascott REIT’s distribution income in the 2014...
Singapore REITS
Ascott Residence Trust (Ascott REIT) on Thursday (Jun 25) announced it will acquire seven property assets in Australia and Japan for S$298.3 million. It will acquire the 380-unit Citadines on Bourke Melbourne from Ascott for A$158.5 million (S$167.6 million). It will also buy the remaining 40 per cent interest in Citadines Shinjuku Tokyo and Citadines Karasuma-Gojo Kyoto for about 3 billion yen (S$33.7...
OUE Commercial REIT on Wednesday (Jun 10) announced its plans to buy into One Raffles Place, in its maiden acquisition since its initial public offering in January last year. Under the deal, OUE Commercial REIT plans to buy a stake of between 75 per cent and 83.33 per cent in OUB Centre Limited, which owns One Raffles Place. OUB is the registered owner of the property and it owns 81.54 per cent of the...
Keppel DC Reit has agreed to acquire data centre Intellicentre 2 (IC2) in Sydney from Macquarie Telecom (MT) for A$43.3 million (S$44.9 million). In a statement on Thursday (May 28), Keppel said the acquisition is the first for data centre Reit, five months after its listing on the Singapore Exchange. IC2 is located within the Macquarie Business Park which specialises in the communications and...
Parkway Life Real Estate Investment Trust (PLife REIT) has booked 14 per cent year-on-year growth in the first quarter of 2015, announced its manager Parkway Trust Management on Wednesday (Apr 29). The overall distribution per unit (DPU) for Q1 2015 increased 14 per cent year-on-year to 3.21 Singapore cents, said Parkway Trust Management in a news release. Notwithstanding the divestment of seven...
CapitaMall Trust (CMT), Singapore's largest shopping mall landlord, reported a higher distribution per unit for the first quarter ended March as shopper traffic and tenants' sales rose amid a weak retail market. CMT said on Tuesday (Apr 21) that it made a higher distribution of 2.68 Singapore cents per unit for three months ended Mar 31, 2015, up 4.3 per cent over the same period in 2014. Its gross...
Far East Hospitality Trust (FEHT) posted lower revenue and earnings for the fourth quarter of 2014, hurt by lower occupancy and room rates at its hotels and serviced residences in Singapore. FEHT, whose properties include the Rendezvous and Orchard Parade hotels, said on Wednesday (Feb 11) that it recorded gross revenue of S$30.3 million for the quarter - a drop of 9.8 per cent compared to the same...
Distributable income for the October-to-December period amounted to S$23.6 million, up from S$21.9 million in the same quarter last year, lifting distribution per stapled security by 6.6 per cent to 1.78 cents, OUE H-Trust said. Gross revenue rose 4.8 per cent to S$30.4 million and net property income increased 5.5 per cent to S$27 million. Mr Chong Kee Hiong, chief executive of the trust manager, said:...
CapitaMall Trust (CMT) posted a higher fourth-quarter distribution per unit (DPU) of 2.86 cents, up 5.1 per cent from the same quarter a year ago. In a news release issued on Friday (Jan 23), CMT's manager said that its distributable income for the same quarter ended Dec 31 rose 5 per cent on-year to S$99.1 million. This brings CMT's DPU for the full year to 10.84 cents, a 5.6 per cent increase over the...
CapitaCommercial Trust (CCT) has reported a distribution per unit (DPU) of 2.15 cents for the fourth quarter of 2014. This is 2.9 per cent higher from a DPU of 2.09 cents in the same quarter a year ago. Distributable income for the quarter also rose 5.7 per cent on-year to S$63.6 million. For the full year ended Dec 31, CCT recorded a DPU of 8.46 cents, up 3.9 per cent from the previous year. CCT's...