REIT Oracle

Your data source for Singapore's REITs.
Top 5 YielderLastYieldDisc. to NAVGearing
First REIT0.25016.60%49.9%49.0%
Lippo Malls Indonesia Retail Trust0.06911.88%60.7%42.5%
Eagle Hospitality Trust0.1378.61%19.7%65.5%
ARA LOGOS Logistics Trust0.6757.64%-16.4%40.5%
Sasseur Real Estate Investment Trust0.8207.61%11.0%27.8%
All Singapore REITsAll Malaysian REITsAll Thai REITs
News about First REIT

First REIT Planning Massive Rights Issue

Following a painful master lease restructuring, First REIT is expecting its portfolio valuation to fall and its gearing level to rise sharply. This is forcing the trust to make a large rights issue to reduce leverage. The trust effectively plans to almost double the number of issued shares with 791,063,000 new units to be issued against the current 807,206,351 units, in order to raise S$158.2 million.

Both the lease restructuring and right issue will need to be approved by unit holders at a EGM. Pro-forma based on the first half of 2020, both operations would shrink NAV per unit from S$0.97 to S$0.346 and massively reduce dividend yield from an annualized 5.2% in to 3.6%

News about Keppel REIT

Keppel REIT Is Buying Keppel Bay Tower

Keppel REIT is announcing the acquisition of Keppel Bay Tower from it's sponsor Keppel Corp.

Asset

Keppel Bay Tower is a grade A office building located near Singapore's Harborfront. It was completed in 2002 and on a 99-year leasehold land (expiring in 2096).

The asset has a high occupancy of 99.2% and a WALE of 3.3 years.

Financing

The $667.0 million operation (fees included) will be financed by debt and some equity fund raising from a private placement of about 256 million new units, increasing the stock free float by 14.8%.

Expectations

The manager expects the purchase to be yield accretive (by +2.7% pro forma on the 2019 DPU).

News about Mapletree Logistics Trust

Mapletree Logistics Buys Japanese Facility

Mapletree Logistics Trust is announcing the acquisition of Higashi Hiroshima Centre, a logistics property around Hiroshima, Japan.

Asset

The freehold property, just completed in November 2020, has a gross floor area of 26,948 m² and is currently 33% leased.

Financing

The JPY6,370 million (roughly S$82.1 million) operation will be fully funded by debt.

Expectations

The operation is expected to be yield accretive and the trust aggregate leverage ratio will climb to 37.9%.

News about Soilbuild Business Space REIT

Soilbuild REIT to Be Taken Private at S$0.55 Per Unit

Soildbuild Group and Blackstone Real Estate have partnered to take Soilbuild REIT private, with an offer to buy out unit holders at S$0.55 per unit:

In a press statement on Monday, the offeror noted that Soilbuild Reit's ability to undertake distribution per unit (DPU)-accretive acquisitions has been limited, partly due to its high DPU yield, which has hindered its ability to bid competitively for third-party assets.

News about Cromwell European REIT

Cromwell REIT Goes East, Buys Czech and Slovakian Assets

Cromwell REIT is announcing the acquisition of a portfolio of light industrial and logistics assets in the Czech Republic and Slovakia.

Assets

The purchased assets are 6 sites in the Czech Republic and 5 in Slovakia, all freehold with 125,435 m² of gross lettable area. All tenanted, they have an average WALE of 6.2 years and a net operating income yield of 6.7%.

Financing

The 113.2 € million purchase price will be financed by internal resource and/or debt.

Expectations

The operation is expected to be DPU accretive and improve the trust geographical diversity while reducing tenant concentration.

News about Parkway Life REIT

Parkway Life REIT Gets Another Japanese Nursing Home

Parkway Life REIT is announcing the purchase of another nursing home in Japan.

Asset

The healthcare focused trust is expanding further into one of the fastest aging nation with the acquisition of Habitation Kamagaya, a 100 beds nursing facility in the greater Tokyo area. It will come with a fresh 20-year master lease and an expected net property yield of 6.4%.

Financing

The total cost of about S$21.2 million will be covered by new debt in local currency.

Expectations

After the operation, the trust expects an increase in yield, an extension of its WALE from 11.19 years to 11.44 years, and an increase in its gearing ratio from 38.6% to 39.3%.

News about Ascendas REIT

Ascendas REIT Buys S$284M Sydney Office

Ascendas REIT is announcing the proposed acquisition of a Sydney office property.

Asset

The purchased asset is 1-5 Thomas Holt Drive in Macquarie Park, a suburb of Sydney. The freehold property, to be completed early 2021, comprises 3 office blocks with 39,188 m² of NLA. It is currently 100% leased with a WALE of 4.5 years.

Financing

The A$303.3 million (S$308.5 million) operation (including fees and costs) will be financed by debt and available cash.

Expectations

The operation is expected to be DPU accretive and increase the trust geographical diversity, with the Australian portfolio growing from 13% to 15% of total assets.

News about Frasers Logistics & Commercial Trust

Frasers Logistics Sells 3 Australian Properties Above NAV

Frasers Logistics and Commercial Trust is announcing the divestment of 3 leasehold properties in South Australia:

The total consideration for the properties is A$29.6 million (S$29.5 million), which represents a 19.4 per cent premium to their book value of A$24.8 million as at Sept 30, 2020, the manager said in the exchange filing.

Market Averages

3.7% yield (using last quarter)
-1.2% discount to NAV