REIT Oracle

Keppel DC REIT to Build New Australian Data Center

Keppel DC will spend between S$26.3 and S$36.41M to construct a new data center in Sydney, Australia.

Singapore-listed property fund Keppel DC REIT, partially owned by the giant conglomerate Keppel Corporation, has tied up a 20-year triple-net master lease with Macquarie Telecom, which will occupy and develop the facility.

Ascendas REIT to Acquire 12 British Properties

Ascendas REIT has entered into an agreement to purchase 12 logistics properties in the United Kingdom.

The proposed acquisition will be funded through pound sterling-denominated loans, it added, as a natural hedge against foreign exchange risk.

Mapletree Logistics Buys 5 Properties in Singapore From HNA

Mapletree Logistics Trust (MLT) will be buying 5 Singapore logistics properties for about S$778M from Chinese conglomerate HNA Group.

With a combined weighted average lease expiry of 8.7 years and built-in rent escalation of 1.5 per cent per annum, the acquisitions are expected to generate an initial net property income yield of approximately 6.2 per cent, based on the purchase price of S$778.3 million.

Frasers Logistics Trust to Sell Property for S$90.5m

FLT is selling a property at 80 Hartley Street in New South Wales (Australia) for A$90.5 million (about S$90.5 million)

The sale consideration represents a 40.3% premium above the book value of the property of A$64.5 million as at March 31 and a 39.2% premium over the original purchase price paid by FLT of A$65.0 million when the property was acquired during FLT’s listing in 2016.

CapitaLand Commercial Trust Sells Building for S$516 Million

CCT is selling Twenty Anson, an office building in Singapore, for S$516 million. The transaction, expected to be completed in Q3 2018, is done at 19% above the valuation done on December 31, 2017.

CCT said that on a pro-forma basis, the impact of its divestment on its distributable income is expected to be neutral as loss of net property income would be offset by interest savings from loan repayment.

ARA Acquires Manager of Cache Logistics Trust

ARA Asset Management has entered into a purchase agreement (SPA) with CWT to acquire their share in the REIT manager of Cache Logistics Trust:

Following the completion of the SPA, ARA will hold 100 per cent of the shares in the Reit manager and the property manager. As CWT will no longer hold any shares in the Reit manager, the right of first refusal granted by CWT to Cache would also expire at such point of time.

ESR-Reit and VIT Merger Could Lead to More Industrial Reit Deals

The Business Times has an in depth analysis on the possible future M&A and consolidation in the Singapore REIT sector, following the ESR & VIT merger announcement.

WITH the proposed merger of ESR-Reit and Viva Industrial Trust (VIT) to create Singapore's fourth-largest industrial Reit, more mergers and acquisitions (M&As) in the industrial Reit space could be on the way, say analysts.

This marriage - creating a combined S$33 billion in assets - could become the first in the history of Singapore Reits (S-Reits). If it goes through, it will happen by way of a trust scheme of arrangement, under which ESR-Reit's manager will become the manager of the enlarged trust; VIT will be de-listed from the Singapore bourse.

ESR-Reit, Viva Industrial Trust to Merge

ESR-Reit and Viva Industrial Trust jointly announced their proposed merger.

ESR-Reit will acquire all of VIT's stapled securities, and in return issue new ESR-Reit units to the stapled security holders, providing VIT with an implied equity value of about S$936.7 million.

Based on the issue price of S$0.54 per new ESR-Reit unit, VIT stapled securityholders can expect to receive S$9.60 in cash, and 160 new ESR-Reit units for every 100 stapled securities held.

Manulife US Reit Raises US$197M Capital

As expected after announcing the purchase of two office buildings in Washington DC and Georgia, Manulife US Reit is raising capital by issuing new shares. The preferential offering of 22 new units for 100 held is done at an issue price of US$0.865, and will raise US$197.2M.

Keppel DC Reit to Raise S$303M from Private Placement

Keppel DC REIT will raise S$303.1 Million through a private placement to finance the acquisition of a 5 story data center, located in located at 13 Sunview Way in Jurong, Singapore.