| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| First REIT | 0.265 | 11.09% | 46.9% | 49.0% |
| Elite Commercial REIT | 0.665 | 8.51% | -7.3% | 42.1% |
| Prime US Reit | 0.880 | 7.89% | -2.3% | 33.8% |
| IREIT Global | 0.660 | 7.62% | 12.6% | 35.0% |
| ESR-REIT | 0.415 | 7.47% | -2.2% | 42.0% |
| All Singapore REITsAll Malaysian REITsAll Thai REITs | ||||
Ascott REIT is announcing its joint investment in a student accommodation property in Columbia (South Carolina, USA), along with its sponsor The Ascott Holding.
With a targeted completion set for the second quarter of 2023, the freehold property will be a US$55.2 million investment for the REIT for a full 50% stake.
Suntec REIT is announcing the sale of a 30% stake in its freshly renovated mall on 9 Penang Road, Singapore. The S$295.5 million valuation is 5.7% above valuation and 30.3% above total development cost.
Pro-forma, the manager expects the transaction to reduce leverage from 44.4% to 42.9% and increase NAV per unit to S$2.057 while keeping the distribution stable.
Despite the dire situation of Malaysian REITs due to Covid-19, IGB is pressing forward with the IPO of IGB Commercial REIT with a listing programmed for July 30.
IGB Commercial REIT, which opened its IPO application today, said “applications will be accepted from 10am on June 10, 2021 and will close at 5pm on July 6, 2021".
Cromwell REIT is announcing the acquisition of a freehold logistic property in the Czech Republic for the price of 10.1 million Euros. The asset, sold by Cromwell Property Group (the trust sponsor) is 97.3% leased with an average lease length of 6.5 years.
The purchase will be funded by cash reserves.
Bloomberg reports that the developer City Developments Ltd has filed an application to IPO a new REIT on the Singapore stock exchange:
Singapore’s City Developments Ltd. has included the London building housing HSBC Holdings Plc’s headquarters in a property trust offering in partnership with Qatar Investment Authority, according to people with knowledge of the matter.
City Developments seeks to raise about 500 million pounds ($705 million) from the REIT’s potential first-time share sale, which could take place as soon as the third quarter, said the people. The REIT will have a portfolio size of about 1.8 billion pounds, the people said, asking not to be named as the process is private.
Ascendas REIT is announcing the sale of three Australian logistics properties for a total amount of A$125.1 million:
The sale price is around 16.8 per cent higher than the total market valuations of the properties of A$107.1 million as at Dec 31, 2020. The divestments are expected to be completed by Q3 this year, said the Reit's manager in a statement on Thursday.
The Business Times reports on the Eagle Hospitality Trust saga:
EAGLE Hospitality Reit (EH-Reit), which is a part of the beleaguered Eagle Hospitality Trust (EHT), has obtained approval from the United States Bankruptcy Court in the District of Delaware to sell off 14 properties of the debtor companies for a total price of US$481.9 million.
Ascott Residence Trust is announcing the acquisition of three housing properties in Sapporo, for a total of ¥6.78 billion (about S$85.2 million). The transaction will be internally funded using debt and the proceeds of the sale of Somerset Xu Hui Shanghai.
Frasers Logistics & Commercial Trust is announcing the acquisition of several European logistic properties:
All properties are freehold, and leased with a combined 97.4% occupancy rate. Total price is about S$548.7 million. The manager expects the transaction to be both NAV and DPU accretive.
In order to fund the operation, the trust has done a private placement, raising S$335.8 million by placing 240 million new shares at a price of S$1.399.
Mapletree Industrial Trust is announcing the planned acquisition of a portfolio of 29 data centres in the US for a total cost of US$1,345 million. The portfolio of mostly freehold properties has an aggregate WALE of 7.9 years and 87.8% occupancy.
In order to fund the operation, the trust has launched:
The rest of the cost will be covered by debt.
The manager expects the acquisition to be both NAV and DPU accretive.