CapitaCommercial Trust (CCT) reported on Friday a distribution per unit (DPU) of 1.90 cents for the first quarter ended March 31. This is 3.3 per cent higher than the 1.84 cents DPU CCT reported in the same quarter a year ago. CCT's distributable income for the three months rose 3.4 per cent to S$53.9 million from the previous year. In a filing to the Singapore Exchange, CCT said the higher...
Singapore REITS
Mapletree Logistics Trust (MLT) said its distribution per unit rose 9.7 per cent to 1.70 cents on-year for the January to March period. In a stock exchange filing, the trust said this was supported by earnings from the four properties acquired in the past 15 months and growth from its existing portfolio. Net property income for the quarter rose 12.3 per cent to S$61.4 million. Meanwhile, property...
Asia's largest logistic facilities provider Global Logistic Properties (GLP) is leasing most of its warehouses in China to domestically driven consumer industries. Barring a global recession, GLP is confident the China market will help drive its growth and take up a larger share of its portfolio. Online retail sales in China have doubled every year for the last five years, benefiting e-commerce...
Ascendas Real Estate Investment Trust said on Thursday it has completed the acquisition of four industrial properties in Singapore for a total cost of S$185.5 million. The properties - named Cintech 1 to 4 - are located at Singapore Science Park I in the island nation's south, and were paid for with cash from internal resources and the drawing down of existing debt facilities, the trust said in a...
Cambridge Industrial Trust Management Limited (CIT) said on Wednesday it is buying its maiden property in the new Paya Lebar iPark precinct for S$72.3 million. The five-storey industrial building, located at 16 Tai Seng Street, has a current gross floor area of about 16,282 square metres that will eventually increase to 19,878 square metres. The purchase is expected to be completed by the second quarter...
Mapletree Logistics Trust (MLT) said it has acquired seven logistics facilities in Japan for JPY 17.5 billion or about S$292 million. In a statement, the Trust said the seven properties, with a total gross floor area of 124,300 square metres are located within the key logistics hubs across Japan in the Hokkaido, Greater Tokyo, Nagoya and Osaka regions. The acquisition is expected to generate a stabilised...
Ascott Residence Trust (Ascott Reit) has entered into a conditional sale and purchase agreement to buy a 60 percent stake in the 124-unit Citadines Karasuma-Gojo Kyoto (Citadines Kyoto) from Mitsubishi Estate Co Ltd and Citadines Ippan Shadan Hojin for S$19.0 million. The balance 40 percent interest is held by The Ascott Limited. The acquisition will be wholly funded by borrowings. Following this...
Global Logistic Properties, a unit of the Government of Singapore Investment Corp, is preparing an initial public offering of its Japanese warehouse assets that may raise about S$1.25 billion, said three sources with knowledge of the matter. The company, known as GLP, may list the real estate investment trust in Tokyo by the middle of the year, said sources of the people, who declined to be identified as...
Singapore REITs (S-REITS) continued to dominate cross-border acquisitions within Asia in 2011, according to a report by CBRE. The real estate consultancy said S-REITS invested S$2.51 billion abroad in 2011 with the vast majority of capital targeted at China. This was comparable to the investments made the previous year, when S-REITS pumped S$2.49 billion into projects abroad. CBRE said 17 out of 26...
Parkway Life Real Estate Investment Trust (PLife REIT) said on Tuesday that it is making further acquisitions to expand its portfolio in Japan and Malaysia. Through its wholly-owned subsidiary, Parkway Life Japan4 Pte Ltd, it has a Tokumei-Kumiai agreement (or silent partnership agreement) for the acquisition of three nursing home properties in Japan at a cost of 3 billion yen (S$50 million). The...