SPH REIT

SPH Reit borrows A$205m to fund Australia mall stake purchase

SPH Reit has obtained A$205 million (S$194.8 million) in secured loans from Westpac Banking Corp to finance its proposed acquisition of a half-stake in Westfield Marion Shopping Centre. Inked in November, the A$670 million deal for the freehold mall in Adelaide, South Australia, will also be funded by a S$300 million issuance of perpetual securities in August plus S$164.5 million raised from a private...

SPH Reit takes A$670m stake in South Australia mall

SPH REIT is expanding its footprint Down Under, with a deal inked on Thursday for a half-stake in a freehold mall, Westfield Marion Shopping Centre, in the state of South Australia. The transaction with Lendlease Real Estate Investments comes at a price tag of A$670 million (S$627.9 million), to be funded by a recent perp issue, plus debt and/or equity fund-raising, the manager said. The price tag,...

SPH Reit launches S$1b multicurrency debt programme; in talks for potential acquisition

Retail landlord SPH Reit has established a S$1 billion multicurrency debt issuance programme, with part of the proceeds to be potentially used for a possible acquisition. The Reit's manager, SPH Reit Management, is currently conducting due diligence on the potential acquisition. "Discussions about the potential acquisition are still preliminary and there can be no assurance that the acquisition will...

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...

Timing and price key in buying Seletar Mall: SPH Reit

SPH Reit, a real estate investment trust sponsored by media group Singapore Press Holdings (SPH), is interested in adding The Seletar Mall to its portfolio, but time and price are two determining factors. The Reit's chairman Leong Horn Kee shared this on Friday in response to questions from shareholders who wondered if the Reit would purchase The Seletar Mall as it looked to grow the business....

SPH to raise S$504m in REIT IPO

Singapore Press Holdings (SPH) will be raising S$504 million in an initial public offering of its retail-focused real-estate investment trust. According to its prospectus, SPH REIT plans to sell its units at 90 Singapore cents each, representing the top-end of the indicative price range of 85 Singapore cents to 90 cents. The trust is selling 308.9 million units to institutional and public investors....

SPH to raise at least S$523m from REIT

Media group Singapore Press Holdings plans to raise at least S$523 million by spinning off some of its property assets via a real estate investment trust (REIT), according to a preliminary prospectus filed on Tuesday. Called SPH REIT, the trust's assets will include the upmarket Paragon mall on the prime shopping belt of Orchard Road and the suburban Clementi Mall. SPH expects gross proceeds of...

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