OUE Commercial Reit on Wednesday unveiled a distribution reinvestment plan (DRP), through which unitholders of OUE C-Reit may choose to receive distributions in the form of fully-paid new units, instead of cash. This will enable unitholders to increase their unitholdings without incurring brokerage fees, stamp duties or other related costs, said the Reit. The new plan will also enlarge OUE C-Reit's...
Singapore REITS
Singapore's real estate investment trust (Reit) market is set to consolidate as smaller vehicles merge to cope with rising regulatory costs, according to Cambridge Industrial Trust (CIT). "The wave of consolidation for Singapore Reits is about to begin," Philip Levinson, chief executive officer at Singapore-listed CIT, said. The trust has a market capitalisation of S$730.5 million and focuses on...
Two private equity firms are weighing separate bids for Ascendas Hospitality Trust, in a deal that could be worth around US$600 million (S$860 million), according to newswire reports on Thursday (Dec 7). Ascendas Hospitality Trust owns a total of 11 hotels in Australia, China, Japan and Singapore. The majority of its properties are in Australia. According to a Reuters report, the two interested...
Ascendas Real Estate Investment Trust (A-REIT) has announced the proposed acquisition of a logistics property located in Sydney, Australia, for A$76.6 million (S$76.6 million), it said in a press release on Thursday (Dec 24). The proposed acquisition will be A-REIT’s 10th logistics facility in Sydney and the 27th in Australia, it added. The property - 6-20 Clunies Ross Street - comprises a modern high...
Ascendas Hospitality Trust (A-HTRUST) said on Wednesday (Dec 23) its managers are reviewing various strategic options after an unnamed party expressed interest in buying the trust. "This follows the recent receipt of an unsolicited expression of interest (EOI) relating to the possible acquisition of all the stapled securities issued by A-HTRUST," the trust said in a stock market filing. "The managers...
SGX broke its mainboard IPO duck this year, welcoming BHG Retail REIT as its first and likely only mainboard listing in 2015 on Friday (Dec 11). BHG Retail REIT has five retail properties, with another 12 in the pipeline, all located in China. It is the first REIT backed by a Chinese-based group to be listed in Singapore. BHG Retail REIT's five retail properties are in key cities Beijing, Chengdu,...
Funan DigitaLife Mall on North Bridge Road - a shopping centre primarily known for shops selling computers and other electronic gadgets - will be closed from the third quarter of 2016, to be redeveloped into a "creative hub". The mall will be closed for about three years, said CapitaLand Mall Trust Management in a press release on Thursday (Dec 10). The real estate investment trust had hinted at such...
Ascendas Real Estate Investment Trust (A-Reit) plans to acquire One@Changi City, a property at Changi Business Park, from two joint-venture partners, Frasers Centrepoint and Ascendas Pte Ltd, for S$420 million. This will partly be funded by the sale of new units that will raise at least S$408 million. A-Reit will offer, through a private placement, 90 million new units to institutional and other...
BHG Retail Trust Management has launched an initial public offering (IPO) of units in BHG Retail REIT (real estate investment trust) at an offering price of S$0.80 per unit, announced the China-based group in a press release on Wednesday (Dec 2). This will make it the first listing on the mainboard of the Singapore Exchange (SGX) this year. The final prospectus of the IPO was filed with the Monetary...
Chinese retail giant Beijing Hualian looks set to be the first mainland company to list a real estate investment trust (REIT) in Singapore, following the filing of a draft prospectus by one of its units. BHG Retail Trust Management said on Monday (Nov 23) that it has lodged a preliminary prospectus for BHG Retail REIT with the Monetary Authority of Singapore for an offering on the main board of the...