| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| Eagle Hospitality Trust | 0.137 | 20.64% | 83.1% | 37.6% |
| Lippo Malls Indonesia Retail Trust | 0.085 | 15.41% | 69.4% | 35.7% |
| First REIT | 0.430 | 15.35% | 55.7% | 34.9% |
| Elite Commercial REIT | 0.650 | 12.00% | -6.6% | 32.6% |
| ARA US Hospitality Trust | 0.300 | 9.50% | 61.0% | 42.5% |
| All Singapore REITsAll Malaysian REITsAll Thai REITs | ||||
Elite Commercial REIT is announcing it's first asset acquisition, a portfolio of 58 British properties sold by its sponsor for a total of £212.5 million. Primarily occupied by UK government entities, the fully-leased properties have a long WALE of 7.4 years and are mostly freehold.
Financing will be done through debt and the issuance of new units. The manager expects the operation be to DPU accretive.
Mapletree North Asia Trust, which owns the Festival Walk mall in Hong Kong, has started receiving payments from its insurance for the damage the mall suffered during the protests and civil unrest last year:
"To date, the manager has received interim payments of HK$263 million (approximately S$46 million) on account of the estimated insurance claims," MNACT manager noted on Wednesday.
Bloomberg covers the activist fight to raise the price of Sabana REIT in its takeover by ESR REIT:
Moermann put a value of 54.5 Singapore cents apiece on Sabana shares in a cash-plus-stock deal. But when the all-stock merger with ESR-REIT was finally announced in July, each Sabana unit was implicitly judged to be worth less than 38 Singapore cents, way below the book value of 51 cents. “We’re not here to fight over who gets one more piece of salami on the pizza,” said Adrian Chui, chief executive officer of ESR-REIT. “We want the pizza to become bigger.”
Taking advantage of a cheaper British Pound and the current economic slump, Suntec REIT is planning to acquire a 50% stake in an office property with attached retail space in London, UK.
The leasehold property, completed in 2016 & 2017, comprises two Grade A office buildings (Nova North and Nova South) and a residential tower with retail space (The Nova Building - the residential space not being part of the transaction). Its land lease expires in 3062 and has about 51,900 m² of total lettable area.
With 35 tenants, the property has a 100% committed occupancy and a NPI yield of 4.6%, with a long WALE of 11.1 years.
The transaction is done on an agreed property value of £430.6 million (totaling about S$773.9 million after adding fees), which the manager expects to finance through debt, pushing leverage to 45.2% and making the operation DPU accretive.
Eagle Hospitality Trust's saga continues as the The Straits Times reports on the arrest of its directors:
All six of Eagle Hospitality Trust's (EHT) former and current Singapore-based directors were arrested and released on bail on Oct 1 on "reasonable suspicion" over breaches of disclosure rules.
This follows from ongoing police investigations, first announced in June, over suspected breaches of disclosure requirements on Section 203 read with Section 331 of the Securities and Futures Act (Chapter 289) of Singapore, said the managers in a regulatory filing on Friday night (Oct 2).
Hong Kong developer Far East Consortium International is studying the possibility of listing an hospitality REIT in Singapore.
Far East Consortium owned 28 operating hotels with about 7,500 rooms at the end of March, with a further 15 properties in the development pipeline, according to its full-year results announcement. Most of them are concentrated in Hong Kong, with the rest spread across mainland China, Malaysia, Singapore, Australia and Europe.
Lendlease Global Commercial REIT has taken a 5% equity stake in Lendlease Asian Retail Investment Fund 3 Limited, which itself holds 75% of Jem, a mall in Jurong, Singapore. The purchase of about S$45 million will be funded by the trust internal resources.
The manager of CapitaLand Retail China Trust has announced it's desire to broaden the type of assets the trust operates, and diversify beyond malls with office or industrial properties:
It will focus on long-term investment in a "diversified portfolio of income-producing real estate and real estate-related assets in China, Hong Kong and Macau".
Shareholders of both CapitaLand Malls Trust and CapitaLand Commercial Trust have approved the merger of the two trusts during their respective EGM.
The merged entity is expected to be one of the largest Reits in the Asia-Pacific and the largest in Singapore by market capitalisation (S$12.7 billion) and total portfolio property value (S$22.4 billion).
UOA REIT is announcing the acquisition of UOA Corporate Tower (in Bangsar South, Malaysia) from its sponsor UOA Development Bhd. The 38 storey office tower, purchased at a price of RM700 million, is currently 93% occupied. It's a 99 year leasehold property with 86 years left on the lease.
Consequently, the trust is also launching a private placement of up to RM282 million to help finance the operation.