REIT Oracle

Your data source for Singapore's REITs.

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

Filed in: Opinion

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.

Read source

ESR-Reit, Viva Industrial Trust to Merge

Filed in: Company news

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.

View ESR-REIT | Read source

Manulife US Reit Raises US$197M Capital

Filed in: Company news

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

Filed in: Company news

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.

SPH Reit to acquire Rail Mall

Filed in: Company news

SPH Reit has agreed to buy The Rail Mall in Upper Bukit Timah Road for $63.24 million, it announced yesterday. The mall comprises 43 single-storey shop units and 95 private carpark spaces.

Funding of this acquisition is announced to be from debt and internal resources.

View SPH REIT | Read source

FSL Looking to Buy 21 Euro Properties

Filed in: Company news

Frasers Logistics & Industrial Trust, which until now was only invested in Australia, is looking to buy 17 industrial and logistic properties in Germany and 4 in the Netherlands, for a total of 603.9M € in appraised value. The properties come with a 100% occupancy rate and long 8.0 years WALE by Gross Rental Income.

Funding will be done by both raising equity (private placement and public offer to current unit holders) as well as borrowings.

Lippo Malls Impacted by New Tax Rule

Filed in: Company news

Lippo Malls Indonesia Retail Trust has been falling lately on the report of a tax change in Indonesia.

all income received or earned from land and/or building leases in Indonesia are subject to income tax at 10% of the gross amount of the value of the land and/or building lease which comprises the total amount that is paid or acknowledged as debt by a tenant in any form whatsoever, including service charges and utilities recovery charges

The trust report an expected impact of an about 7% drop in distribution and no change on the NAV.

Manulife US REIT Snaps Up 2 New Properties

Filed in: Company news

Manulife US REIT is buying 2 office towers in the USA for a combined US$387M:

  1. At 1750 Pennsylvania Ave in Washington DC, a 13 storey Class A office tower for $182M
  2. In Buckhead, Atlanta, a 19 storey tower for $205M

Both acquisitions will be financed with debt.

Site launched!

Filed in: Site news

I love REIT as an investment. They are easy to understand (it's some properties and debt attached to it), provide regular income and offer real-estate exposure with diversification, simplicity, liquidity and often higher yields than direct property ownership.

I have long maintained a spreadsheet of the Singapore REITs for my own usage, compiling hundreds of financial reports over the years. But I realized that all this work could benefit others too. I wrote REIT Oracle to present this compilation of data.

The site content now is rather bare but I feel it's already more complete than most other sources out there, and you can use the screener to find the most profitable (or most discounted, or least leveraged...) REIT. Much more stuff will be brought online in the coming weeks as I have a lot of data to use and plenty of ideas, stay tuned!

Market Averages
Yield (using last quarter)6.6%
Discount to NAV-1.5%
see historical data...