| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| Prime US Reit | 0.116 | 23.36% | 80.7% | 48.4% |
| Keppel Pacific Oak US REIT | 0.137 | 18.25% | 80.1% | 43.0% |
| Elite Commercial REIT | 0.235 | 13.06% | 45.3% | 47.5% |
| ARA US Hospitality Trust | 0.280 | 12.25% | 62.2% | 41.5% |
| United Hampshire US REIT | 0.425 | 11.27% | 41.0% | 41.7% |
| All Singapore REITsAll Malaysian REITsAll Thai REITs | ||||
Keppel DC REIT is announcing the divestment of Intellicentre Campus, a data centre in Sydney, for A$174 million:
On Tuesday (Apr 16), Keppel DC Reit’s manager said the agreed value represents a 35.4 per cent premium to the property’s FY2023 valuation of A$128.5 million, and is 148.6 per cent higher than the Reit’s original investment of A$70 million in the asset.
Digital Core REIT is buying an extra 10% share of data centre in Osaka, Japan for about S$68.9 million:
The data centre is a freehold facility comprising 114,940 square feet of net rentable space with an occupancy of 95 per cent, as at Dec 31, 2023. The manager noted that the facility is predominantly leased to leading global cloud providers.
Keppel REIT is purchasing a 50% stake in Sydney office property:
The manager of Keppel REIT has entered into a contract of sale to acquire an effective 50% interest in 255 George Street for A$363.8 million ($321.0 million)
The 29-storey property is a freehold Grade A office building located in Sydney’s centre business district (CBD). It has a net lettable area (NLA) of 38,996.8 sqm (419,758.06 sq ft) comprising 38,805.0 sqm of office space and 191.8 sqm of retail space, as well as 188 car park lots.
Bloomberg reports that Thai mall owner Siam Piwat (which owns Siam Paragon) is considering an IPO:
The Bangkok-based company is asking international banks to submit proposals for a potential first-time share sale that may take place before the end of this year, the people said, asking not to be identified as the process is private. Siam Piwat is aiming to raise $500 million to $750 million in the IPO, they said, adding that deliberations are ongoing and it could decide not to list.
Frasers Logistics and Commercial Trust (FLCT) is taking a 89.9% interest in a portfolio of 4 logistics assets in Germany from its sponsor:
FLCT said the agreed property purchase price of 129.5 million euros (S$173.1 million) represents a discount of 5.3 per cent to the assets’ appraised value by Colliers, and a 1.1 per cent discount to the value as appraised by CBRE.
The acquisition is expected to be distribution per unit and net asset value accretive to the real estate investment trust (Reit).
Along with releasing it's results for the year 2023, Keppel Pacific Oak US REIT is announcing the suspension of distributions to shore up its balance sheet:
The manager noted a challenging borrowing environment as lenders remain concerned about the US office market. Meanwhile, Kore’s leverage rose to 43.2 per cent post the FY2023 valuation, approaching the 50 per cent limit set by the Monetary Authority of Singapore and bank covenants.
Keppel DC REIT is announcing that following a legal settlement, it will receive S$13.3 million from DXC Technology Services:
The Singapore High Court endorsed Keppel DC Singapore’s interpretation of the agreement on Jan 12, 2024, after the Reit’s master lessee at Keppel DC Singapore 1 commenced legal proceedings against DXC in March 2022.
Mapletree Industrial Trust has announced the divestment of a cluster of two factories in Singapore for S$50.6 million:
The selling price is 3.9 per cent above the properties’ independent valuation of S$48.7 million as at Dec 31, 2023. It also implies an 8.4 per cent premium above the book value of S$46.7 million as at the end of the financial year ended Mar 31, 2023.
Digital Core REIT has announced an increase in equity with a US$100 million private placement, that concluded at US$0.6250 per share:
About 75 per cent of the gross proceeds raised will be used to fund potential acquisitions, which may include acquiring an interest in a data centre located in Japan, said the manager.
CapitaLand India Trust is announcing more acquisitions with the purchase of three leasehold industrial properties in OneHub Chennai (India) for S$43.2 million:
Spanning 7.95ha of leasehold land with a renewable lease tenure of 99 years in total, the project is slated for completion in three phases over four years.
Over the land’s total net leasable area of 790,000 sq ft, phase one of the project covers 480,000 sq ft, while phase two is made up of 160,000 sq ft. Another 150,000 sq ft of land comprises phase three of the project.