REIT Oracle

FLCT Adds Commercial Property in Victoria, Australia

Frasers Logistics & Commercial Trust is announcing the purchase of a mixed commercial property in Mount Waverley (Victoria, Australia) for A$60.25 million (or about S$58.4 million). The building has retail space on the ground floor and four floors of office space above it, and is fully occupied with a WALE of 5.0 years.

The Acquisition will be funded from the previous sale of Cross Street Exchange (in Singapore).

First REIT Sells Surabaya Hospital

First REIT is announcing the sale of one of its Indonesian Hospital, Siloam Hospitals Surabaya, for about S$40.9 million. The buyers are PT Siloam International Hospitals and PT Megapratama Karya Bersama (a subsidiary of Siloam as well).

The property was part of its original portfolio when the trust listed in 2006 and was, according to the trust's 2021 annual report, appraised for the same amount. The manager is not providing any pro-forma projections on the impact of the transaction.

Ascendas REIT to Buy Seven Chicago Properties

Ascendas REIT is announcing the acquisition of a portfolio of seven logistics properties in Chicago, USA. At a price of US$99.0 million or S$133.2 million, the assets are 100% occupied with a WALE of 5 years spread over 12 tenants.

The manager expects the transaction to be slightly DPU accretive thanks to a NPI of 5.1% after transaction costs.

ESR REIT Renamed ESR-LOGOS REIT

Following its merger with ARA LOGOS REIT, ESR REIT is now trading under the new name ESR-LOGOS REIT.

CICT Buys 70% Stake in Singapore Office Tower

CapitaLand Integrated Commercial Trust is announcing the acquisition of a 70% stake in 79 Robinson Road, a newer office building in Singapore's Central Business District, for S$882.0 million.

The Grade A office, completed in 2020, has a long WALE of 5.8 years and is 92.9% occupied but is built on a 99 year leasehold plot, with only 45 years left.

The purchase, which is expected to be yield-accretive, will be internally funded.

Unitholders Approve ARA Logistics and ESR Merger

Unitholders of both ARA Logistics Trust and ESR-REIT have overwhelmingly voted in favor of the merger of the two trusts, to form ESR-Logos REIT.

Dasin Retail Looking to Sell Two Properties

Dasin Retail Trust has entered into a non-binding memorandum of understanding for the sale of two properties, Shiqi Metro-Mall and Xiaolan Metro-Mall.

Incorporated in PRC, the Purchaser is a buyout fund with institutional and private investors and will be managed jointly by GSUM Real Estate Fund Management Co., Ltd. and a subsidiary of Sino-Ocean Capital Holding Limited. Sino-Ocean Capital Holding Limited is a substantial unitholder of the Trust via its affiliate, Glory Class Ventures Limited, which holds approximately 6.3% of the Trust as at 18 March 2022.

The terms of the Put Option and the Proposed Divestment (including the price) are subject to discussions between the Trustee-Manager (in its capacity as trustee-manager of Trust) and the Purchaser

ARA Hospitality Sells Chicago Hotel

ARA Hospitality Trust is deleveraging with the announcement of the sale of Hyatt Place Chicago Itasca for US$7.75 million. The 126 rooms property is one of the smallest and oldest owned by the trust and represents about 1.1% of the total portfolio value.

Pro forma impact is a negligible decrease in NAV and slight increase in distribution per unit, based on January 1st comparison.

Turning Japanese: Ascott REIT Diversifies Further With 5 New Properties

Ascott REIT doubles down on its diversification and announces the purchase of four rental housing properties and one student accommodation property in Japan:

• 3 rental housing unit and 1 student accommodation in Osaka
• 1 rental housing in Fukuoka

All properties are freehold and will be completed between Q4 2022 and Q2 2023. The ¥10.4 billion (about S$125.0 million) operation will be entirely debt funded, with gearing expected to climb to 38.3%.

Soon, a Student Housing REIT From Mapletree?

The Edge reports on Mapletree Investments potentially preparing the IPO of a new REIT:

Mapletree Investments, a Singapore-based property developer and manager, has selected advisers for a potential initial public offering of a student housing real estate investment trust that could raise about US$1 billion, according to people familiar with the matter.

The company owns 51 student accommodation facilities with over 22,000 beds located across 34 cities in the UK, the US and Canada worth about $3.7 billion, its annual report shows. The REIT will be backed by student housing assets in the UK and US, the people said.