Singapore REITS

More instability expected in REIT market before it picks up

UBS said more instability is expected in the relatively cool real estate investment trust (REIT) market before it picks up, and this turnaround could happen as early as the last quarter this year. Although REITs have been under pressure in the current volatile market, some other market-watchers said they expect to see new REITs being launched within the next six to 12 months. Retail and healthcare REITs,...

Suntec REIT secures S$400m to refinance its bridging loans

Suntec REIT has secured a S$400 million loan to refinance its bridging loans. It will be carried out through an unsecured club loan facility from a panel of banks. The facility is for a period of three years. The loan will help Suntec refinance an outstanding loan after its acquisition of one third of the One Raffles Quay building in the central business district. With this new deal, Suntec REIT will...

Allco REIT gets go-ahead to build 10-storey hotel at China Square Central

Allco Commercial REIT has been given the green light to build a 10-storey hotel with about 350 rooms at China Square Central. The Urban Redevelopment Authority (URA) has granted Allco REIT permission to add 16,000 square metres of gross floor area to the development in the central business district. The development currently consists of a 15-storey office block and 38 conservation shop house...

MapletreeLog to raise some S$607m through rights issue

Mapletree Logistics Trust is planning to raise nearly S$607 million through a renounceable rights issue. It is issuing about 831 million rights units at 73 Singapore cents each, representing a 21.4 per cent discount to MapletreeLog's volume weighted average price on June 24. Unit holders will get three rights units for every four units held. The net proceeds will be used to finance or refinance the...

MP REIT secures nearly 20% rent rise for 226,000sf of Ngee Ann City space

Macquarie Prime Real Estate Investment Trust (MP REIT) has secured 19.75 percent higher rent from its tenant Toshin Development. But when contacted, MP REIT declined to reveal details of the rent, saying it is confidential. Toshin is the master lessee for about 226,000 square feet of retail space in Ngee Ann City. The new rent will be locked in for three years from June 8 this year. MP REIT says this...

Singapore-listed REITs trading below 12-month price targets set by analysts

Amid the market turmoil in the past half year, Singapore-listed real estate investment trusts, or REITs, have been under pressure. They are now trading below their 12-month price targets set by analysts. But market-watchers said that they're optimistic REITs have not lost their appeal among investors and they expect the REITs sector to keep growing. It's been a honeymoon period since the first REIT was...

Pacific Star increases stake in Prime REIT to 50%

Singapore-based real estate investment house Pacific Star Group has agreed to buy the 25 percent stake held by MEAG Munich Ergo Asset Management in Prime REIT Management Holdings. Prime REIT owns 100 percent of listed Macquarie Pacific Star Prime REIT Management. It is also the sole owner of Macquarie Pacific Star Property Management, which is the property manager of MMP REIT. The purchase will increase...

Parkway Life REIT investing in two nursing homes in Japan

Parkway Trust Management , the manager of Parkway Life Real Estate Investment Trust, is investing in two nursing homes in Japan for some S$34m. One of the homes is located in Yokohama City, Kanagawa Prefecture and the other is in Ibaraki City, Osaka. The vendor of both properties is nursing home operator ZECS Community Co. Under the sale and leaseback agreements, ZECS CC will lease back 100% of the...

CapitaMall Trust buys The Atrium@Orchard development for S$840m

CapitaMall Trust (CMT) has bought The Atrium@Orchard office development for about S$840 million. CMT said the purchase from the Singapore Land Authority (SLA) will be funded by a mix of debt and convertible bonds. Describing the acquisition as yield-accretive, the Trust plans to issue at least S$650 million worth of bonds. The Atrium@Orchard is a commercial development comprising two Grade A office...

Frasers Centrepoint Trust plans to refurbish suburban malls

Following the S$13 million makeover of Anchorpoint Shopping Centre, Frasers Centrepoint Trust has plans to turn its attention to other suburban malls under its stable. Anchorpoint's new look appears to be getting the thumbs up from retailers. Lee Hsien Yang, chairman of Fraser & Neave, said: "Anchorpoint used to be occupied by furniture shops, but I think we felt there was a niche in the market for...

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