| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| Accordia Golf Trust | 0.570 | 11.12% | 25.1% | 30.4% |
| Soilbuild Business Space REIT | 0.535 | 9.48% | 13.7% | 39.4% |
| Sasseur Real Estate Investment Trust | 0.800 | 8.51% | 7.3% | 29.7% |
| First REIT | 1.010 | 8.51% | 0.9% | 34.5% |
| EC World REIT | 0.735 | 8.42% | 13.5% | 32.4% |
| All Singapore REITsAll Malaysian REITs | ||||
Ascendas REIT is announcing the purchase of 254 Wellington Road in Musgrave near Melbourne, Australia. The freehold suburban office with a 17,507 m² NLA is due to be completed next year.
Nissan has committed to lease 65.2% and the vendor will provide a 3-year rental guarantee for the remaining vacant space.
The transaction of A$112.2 million is expected to be DPU accretive.
Keppel REIT is announcing the sale of its Bugis Junction Towers property (Singapore). The sale price of S$547.5 million is 6.3% above the latest valuation ; no specific plans for the proceeds have been announced yet.
Undecided about subscribing to the Lendlease REIT IPO? A number of bloggers chime in and share their opinion:
Mapletree Commercial Trust is announcing the acquisition of Mapletree Business City (Phase 2) from its sponsor. The business park, located on Pasir Panjang Road in Singapore, is being purchased at the price of S$1.55 billion and has a 99 years leasehold starting in 1997. Comprising a total of 110,062 m², it comes with a 99.4% commited occupancy and a 2.9 years WALE.
The manager expects the aquisition to be DPU and NAV accretive and will fund the operation through both debt and an issue of up to 500 million new units (with a private and/or public placement).
A presentation is available on the trust website.
Manulife US REIT is announcing the acquisition of 400 Capitol in Sacramento, California. The 29 storey office building, completed in 1992, has about 46,500 m² of NLA and a 94.9% occupancy with a WALE of 5.9 years.
In order to complete the US$200.5 million purchase, the trust is doing both a US$65 million private placement as well as a US$77.1 million preferential offering for eligible unitholders.
Upon completion, the manager expects an increase of 2.3% in distribution per unit and 0.6% in Net Asset Value per unit.
Mapletree Logistics Trust is announcing the acquisition of a one-storey logistics facility in Truganina, Melbourne. The property, to be built at 15 Boterro Place, sits on a freehold land and will have about 15,100 m² of lettable area upon completion. The transaction will done for A$18.4 million and be funded by debt, with an expected increase of the trust gearing level of 0.1% to 36.9%.
Mapletree Industrial Trust announces a joint venture with Mapletree Investment to purchase a portfolio of 13 data centres in North America, for a total price of S$1,900.3 million (split 50/50 between both partners). The portfolio has a 100% occupancy and long WALE of 9.1 years.
To that effect, the trust is organizing a S$350 million private placement and issuing up to 180,915,000 new units at a price range of S$2.211 and S$2.265.
The manager expects the operation to increase both Distribution Per Unit and Net Asset Value per unit.
As expected, Australian developer Lendlease Global is moving forward with listing its REIT in Singapore. 387.5 million units of Lendlease Global Commercial REIT will be offered to the public at S$0.88 per unit. With the help of cornerstone investors, the trust will raise a total of over a billion Singapore Dollars and own 2 properties in Singapore (313@Somerset) and Milan (Sky Complex), worth about S$1.41 billion.
The public offer opens on Sept 25 at 9pm and closes on Sept 30 at 12pm, with the Reit expected to list on Oct 2. The minimum initial subscription for applications is 1,000 units.
The prospectus is available on MAS website.
Keppel DC REIT is planning a major expansion as it plans to raise S$473.8 millions of equity to fund two acquisitions in Singapore:
The proposed acquisitions are expected to be highly accretive to Keppel DC REIT's Distribution per Unit (DPU). When completed, the REIT's assets under management will grow by 30.7% to $2.58 billion, comprising 17 data centres in key data centre hubs globally, spanning an aggregate lettable area of approximately 1,410,497 sq ft.
A combination of debt and S$473.8 million in private placement and preferential offering will be used. Aggregate leverage ratio is expected to decrease from 31.9% to 30.3%.
After having just changed its name, Keppel Pacific Oak US REIT has announced the acquisition of an office complex in Irving, Dallas. Named One Twenty Five, the property, comprising two class A office building, will be acquired for US$101.5 million.
The manager expects the purchase to be DPU accretive and to be funded by a private placement and debt.