Warehouse operator Global Logistic Properties (GLP) said on Thursday it would exercise an option to sell three Japanese properties to Tokyo-listed GLP J-REIT for US$142 million (S$174 million), Dow Jones Newswires reported. The deal is part of a November transaction in which the Singapore-based company sold 30 Japanese warehouses to the real estate investment trust for 209 billion yen (S$2.8 billion), in...
Singapore REITS
Mapletree Logistics Trust (MLT) said on Thursday its distribution per unit for the fiscal third quarter rose 1.2 per cent, thanks to contributions from assets acquired last year and higher revenue from existing properties, Dow Jones Newswires reported. Unit holders will receive 1.72 Singapore cents per unit for the three months ended Dec 31, up from 1.70 cents in the corresponding period a year ago, the...
Ascendas Real Estate Investment Trust (A-REIT) has reported a 4.0 per cent on-year increase in distribution per unit (DPU) to 3.62 cents for its third quarter ended 31 December 2012. The amount available for distribution increased 11.9 per cent to S$81.1 million in the quarter under review. In a filing on the Singapore Exchange, A-REIT said it recorded positive rental reversion of between 5.5 per cent...
CDL Hospitality Trusts on Friday announced that it is buying the Angsana Velavaru resort in the Maldives from Banyan Tree Holdings for US$71 million (S$86.8 million). This marks the trust's first resort acquisition and a new geographic market segment. As part of the sale and leaseback agreement, CDL Hospitality Real Estate Investment Trust will grant a lease for the resort to Banyan Tree Holdings for 10...
With investors desperate for yield in a prolonged low-rate environment, shares of trusts have surged in Singapore and elsewhere in Asia. But that enthusiasm has been largely focused on real estate investment trusts (REITs) and has not been reflected in demand for business trusts. In Singapore, 90 per cent of the assets in a REIT must be fully developed and already drawing income. Business trusts,...
GLP J-REIT, a real estate investment trust set up by Singapore's Global Logistic Properties (GLP), will sell as much as ¥111 billion ($1.6 billion) worth of shares in its initial public offering in Japan, according to a regulatory filing yesterday. GLP, one of the world's largest warehouse operators, said last month it would sell shares in the REIT, which has 30 properties valued at US$2.6 billion (S$3.2...
Mapletree Commercial Trust said yesterday it agreed to buy Mapletree Anson for S$680 million from a wholly-owned unit of its sponsor Mapletree Investments. Mapletree Anson, is a 19-storey premium office building in the CBD, with a 99-year lease beginning from October 2007. It has a gross floor area of 383,812 sq ft and net lettable area of 331,854 sq ft. Source : Today - 4 Dec...
Far East Orchard - a unit of Far East Organization, Singapore's largest privately held developer by assets - said on Monday it planned to buy Straits Trading Co's hospitality management business and stakes in the company's hotel assets, Dow Jones Newswires reported. Far East Orchard said it signed a non-binding memorandum of understanding with Straits Trading for the proposal, which also involves...
Singapore real estate investment trusts (S-REITs) continue to attract investors as they provide better returns than most of their regional peers while also outperforming stock market returns, according to a report by Asia Pacific Real Estate Association (APREA). Findings of the report, which analyzed seven REIT markets in Asia up to April 2012, indicate an average 6.39 per cent dividend yield from...
Singapore-listed Global Logistics Properties (GLP) says it will raise S$414.4 million (US$339 million) in gross proceeds by issuing new shares through a private placement. GLP will issue 160 million new shares at S$2.59 to partly fund its acquisition of Brazilian logistic assets. The company said on Wednesday that it would form joint ventures with the Canada Pension Plan Investment Board, China...