| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| First REIT | 0.255 | 12.35% | 27.4% | 34.7% |
| Dasin Retail Trust | 0.405 | 12.35% | 72.3% | 36.7% |
| Sabana REIT | 0.425 | 8.87% | 18.3% | 34.9% |
| United Hampshire US REIT | 0.690 | 8.81% | 4.2% | 36.4% |
| Sasseur Real Estate Investment Trust | 0.855 | 8.27% | 8.7% | 27.8% |
| All Singapore REITsAll Malaysian REITsAll Thai REITs | ||||
Ascott REIT is announcing the purchase of a student accommodation property in Lubbock, Texas (USA) for US$70.0 million or about S$93.8 million. The freehold property is close to Texas Tech University and was opened in 2017.
To help fund the acquisition, the trust is also launching a private placement of S$150 Million, by issuing 152,594,100 new shares at a unit price of S$0.983.
Keppel DC REIT is announcing the acquisition of a third data centre in the Netherland. Comprising two buildings, the freehold property is in Eindhoven and fully leased. The agreed price is 37.2 million € or about S$59.9 million.
The acquisition is expected to be accretive to Keppel DC REIT's distribution per Unit, and is funded by the proceeds from the recent equity fund raising and by debt denominated in Euro.
ESR REIT is announcing the sale of 45 Changi South Avenue 2 for S$11.1 million:
The Sale Consideration represents a 7.8% premium to the fair value of the Property of S$10.3 million. The divestment of the Property (the “Divestment”) is not expected to have a material impact on ESR-REIT’s net asset value and net property income for the financial year ending 31 December 2021.
Mapletree Logistics Trust is planning to acquire a cold-storage facility in the vicinity of Melbourne, Australia. The freehold property has an 14,747 m² Net Letable Area and 100% tenanted to a subsidiary of logistics company Wingara AG.
The A$42.8 million purchase will be funded by debt, with the expectation of increasing gearing to 38.7% pro-forma while being yied-accretive.
Some new functionalities have been added to the REITs list page:
You can now search REITs by nane, show only those trading at a discount to NAV and/or only the large caps (currently set to a minimum of S$2B)
You can compare multiple REITs. For example, compare Singapore REIT in the hospitality sector.
IREIT Global is announcing that from August 17 onward, it's units will be listed on SGX in both Singapore Dollars as well as Euros. It'll also start paying its distribution in Euros.
Cromwell REIT is announcing the acquisition of a freehold logistics property in the United Kingdom for a price of £10.0 million (approximately 11.7 million Euros):
- Attractive 5.6% net operating income (“NOI”) yield3, ~3% below independent valuation and 32% discount to replacement cost4
- The Asset is situated in a prime logistics location close to the major cities of Liverpool and Manchester, with good connectivity to major motorway networks, two airports and a deep-sea port
- The Asset is 100% let on a 10-year lease, with opportunity for rental growth and value enhancement
Hot on the heels of its Q2 results, Keppel Pacific Oak US REIT is announcing the acquisition of two new office buildings in the USA: Bridge Crossing in Nashville and 105 Edgeview in Denver. The US$105.1 million operation is being funded by a private placement of about US$65 million launched today.
The proposed acquisitions are expected to be completed in 3Q 2021. Post-acquisition, the pro-forma DPU for the financial year ended 31 December 2020 to Unitholders is expected to increase by 0.8% from 6.23 US cents to 6.28 US cents. The pro-forma assets under management as at 31 December 2020 will grow by 8.0% to approximately US$1.4 billion, and the pro-forma portfolio committed occupancy as at 30 June 2021 will increase from 90.5% to 91.2%. Following the completion of the proposed acquisitions, KORE’s portfolio will consist of 15 freehold office buildings and business campuses across nine key growth markets driven by innovation and technology in the US.
Keppel DC Reit continues its expansion and announces the acquisition of a data centre in Guangdong, China, for RMB 635.9 million (about S$132 million):
The property will be fully leased back to Bluesea on a triple net basis for 15 years. With a gross floor area of approximately 20,595 sqm (221,689 sq ft), the seven-storey data centre is designed in accordance with the Code for Design of Data Centre Grade A GB, where Grade A is the highest standard for data centres in China. Situated within the Bluesea Intelligence Valley Mega Data Centre Campus, the facility is the first of six data centre buildings to be completed. As part of this agreement, Keppel DC REIT will have the right of first refusal to acquire the remaining five data centres within the campus.
The manager expects the transaction to be yield accretive and completed in the third quarter of 2021.
It's an understatement to say that the hospitality REITs have been badly hurting lately, with the sector now being 18 months in deep coma. In order to be less reliant on foreign visitors, the management of CDL Hospitality Trust is now announcing its desire to diversify by adding "other lodging facilities and properties used for rental housing, co-living, student accommodation and senior housing" to its principal investment strategy.