Singapore REITS

FCT to buy one-third stake in Waterway Point from Frasers Property for S$440.6m

Frasers Centrepoint Trust (FCT) is looking to acquire a one third interest in Waterway Point, a large suburban mall located in Punggol, from its sponser Frasers Property in a S$440.6 million deal, it announced on Thursday. At the same time, FCT is launching an equity fund raising exercise, S$245.3 million of whose total proceeds will go towards partly financing the acquisition. The acquisition of...

Suntec Reit raises S$200m in private placement

Suntec Real Estate Investment Trust's (Suntec Reit) manager has closed the book of orders for its private placement of new units in the Reit to raise gross proceeds of about S$200 million. The bulk of the proceeds will go towards financing potential acquisitions of properties in Australia, ARA Trust Management (Suntec) Limited said on Thursday before the market opened. On Wednesday night, the...

Issues with tenants ‘unavoidable’ but unlikely to concern Reits: DBS

Issues with tenants are "unavoidable" but are unlikely to concern real estate investment trusts (Reits) as most of them are diversified and have measures in place, said DBS Group amid news of some Reits being briefly impacted after CWT's parent defaulted on a loan agreement. "It's unavoidable, things happen to tenants," said DBS head of capital markets Eng-Kwok Seat Moey on Thursday, when asked how...

S-Reits tipped for further gains as rate hike fears subside

After a good run this year, S-Reits are likely to remain in vogue amid a more dovish Federal Reserve and room for further growth. Analysts pointed to hospitality and industrial Reits among their preferred sectors on the back of easing supply, although some highlighted that valuations in general have tightened and investors might do well to accumulate on pullbacks. "While investors could eye near-term...

Sabana Reit’s Tuas industrial building sale called off

Sabana Reit's divestment of a Tuas industrial building is off for now after the purchaser did not obtain approvals from JTC. The buyer Kim Soon Lee (Lim) Heavy Transport is not prepared to further extend the long-stop date, the Reit said in a Singapore Exchange filing on Saturday. In September 2018, Sabana had proposed to sell the building at 1 Tuas Avenue 4 for S$11.18 million in cash, 52 per cent...

CapitaLand Commercial Trust pursues S$1.5b Duo office tower

CapitaLand Commercial Trust, Singapore's biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said. The real estate investment trust has been negotiating the purchase of a 39-story office building called Duo Tower, along with the connected Duo Galleria mall, according to the people. The...

Ascott Raffles Place Singapore to be sold for S$353 million

Serviced residence Ascott Raffles Place Singapore, which is housed within a restored 1950s heritage building, is set to be sold off for S$353.3 million by Ascott Residence Trust (Ascott Reit). The sale price is 64.3 per cent above the property’s latest valuation of S$215 million as at Dec 31, 2018, Ascott Reit said in a stock exchange filing on Wednesday (Jan 9). It said that the buyer is an...

CapitaLand to buy real estate group Ascendas-Singbridge from Temasek in S$11b deal

Singapore's CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek in a deal valued at S$11 billion that the developer said will create the largest diversified property group in Asia. CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and...

SPH Reit still seeking acquisitions amid tough market

The manager of SPH Reit says it is hard to find good assets both locally and overseas, evidenced by the limited number of transactions completed in the market this year. Leong Horn Kee, chairman of the Reit manager, was asked by shareholders at the Reit's annual general meeting why it had only purchased a small strip mall like The Rail Mall this year, and whether it plans to ramp up its acquisitions...

Sabana Reit to sell Geo-Tele Centre to Ascendas-Singbridge Group

Sabana Reit is selling a data centre in Tai Seng to the government-linked Ascendas-Singbridge Group, with the manager citing its strategy of divesting under‐performing and mature assets. The manager inked a conditional sale and purchase agreement on Wednesday to sell Geo‐Tele Centre for S$99.6 million to a trust, it said. Ascendas-Singbridge, which is jointly owned by state entities Temasek Holdings...

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