Singapore real estate investment trusts have gone from last year's biggest losers to this year's best performers as their world-beating yields attract investors including BNP Paribas Investment Partners to Samsung Asset Management. Singapore Reits, which mostly invest in malls, offices and industrial buildings, offer the highest dividend yields among developed markets, according to data compiled by...
Singapore REITS
CAMBRIDGE Industrial Trust Management on Monday said it has entered into an agreement with UBZ System for the proposed sale of its remaining leasehold interest in 2 Ubi View for S$10.5 million. According to the manager of Cambridge Industrial Trust (CIT), the proposed sale originated from an "unsolicited offer" from UBZ. The sale consideration represents a premium of about 6 per cent above the...
PROPERTY trust Viva Industrial Trust said on Monday that it has secured an anchor tenant for an area at Viva Business Park that was converted from industrial usage. It said the tenant, which will take up 38,000 sq ft of space, is a leading household name with a showroom and retail chain in Singapore. Renovations at the business park to convert up to 15 per cent of space to "white" space for a variety...
SOILBUILD Business Space Reit is raising up to S$59.4 million via a preferential offering to partly fund the acquisition of Bukit Batok Connection. The Reit is issuing up to 94.35 million new units at S$0.63 per unit through a pro-rata non-renounceable preferential offering to its existing unitholders. At S$0.63, this is a discount of 8.2 per cent to the volume-weighted average price of S$0.6865 per...
SINGAPORE real estate investment trusts (S-Reits) have risen 4.4 per cent since last Thursday's UK referendum, and Religare Institutional Research expects them to continue to rally over the course of the long drawn-out post-"Brexit" process. This is as federal fund rates are also expected to stay low in 2016. The brokerage lowered its risk-free rates by 40 basis points (bps) on Monday, and upgraded its...
SOILBUILD Business Space Real Estate Investment Trust, or Soilbuild Reit, said its manager is proposing to buy an industrial property at 2 Bukit Batok Street 23 for S$100.5 million. At the same time, Soilbuild plans to enter into a master lease arrangement with the seller of the property, SB Westview Investment, which is a subsidiary of sponsor Soilbuild Group Holdings. The lease is for seven years....
Frasers Logistics and Industrial Trust is set to raise about S$903 million ($666 million) after pricing its Singapore initial public offering at the top of its indicative range in the country's biggest new listing in three years. The real estate investment trust (REIT) said in a filing on Friday (Jun 10) that it is selling 521.7 million units - priced at 89 cents apiece - to institutions and retail...
CapitaLand Commercial Trust (CCT), Singapore’s largest office real estate investment trust, will acquire the remaining 60 per cent stake it does not own in the CapitaGreen office tower for S$393 million. CCT will buy a 50 per cent share from CapitaLand group and another 10 per cent share from Mitsubishi Estate Asia, the company said in a filing to the Singapore Exchange on Monday (May 23). The...
THE manager of Frasers Hospitality Real Estate Investment Trust on Friday said the trust will acquire Germany's Maritim Hotel Dresden for 58.4 million euros (S$90.6 million). This is Frasers Hospitality Trust's first hospitality asset in Germany as well as its first acquisition from a third party. Maritim Hotel Dresden is a freehold, 328-room hotel located in the city centre of Dresden, the capital of...
CANADIAN financial services group Manulife has started pre-marketing for an initial public offering (IPO) in Singapore of its US office Reit (real estate investment trust), a plan it had shelved for nine months due to market conditions. It is now said to be aiming for a May 20 listing. A report by FinanceAsia on Tuesday, which cited bankers familiar with the situation, said the deal could raise...