REIT Oracle

Your data source for Singapore's REITs.
Top 5 YielderLastYieldDisc. to NAVGearing
Accordia Golf Trust0.54011.74%29.1%30.4%
Soilbuild Business Space REIT0.5459.31%12.1%39.4%
Lippo Malls Indonesia Retail Trust0.2258.62%24.8%35.2%
Sasseur Real Estate Investment Trust0.7958.56%7.9%29.7%
First REIT1.0208.43%-0.1%34.5%
All Singapore REITsAll Malaysian REITs
News about CapitaLand Commercial Trust

CapitaLand Commercial Trust to Invest in German Property

CapitaLand Commercial Trust plans to purchase a 94.9% stake in Main Airport Center (in Frankfurt, Germany). The freehold office property, built in 2004, is located near the city airport and has a 90% committed occupancy, a 4.7 year WALE and Net Property Yield of 4%.

The trust will pay 251.5 million Euros for the stake, and will fund the operation through a mix of debt and new equity (a private placement has been announced). The manager expects the acquisition to be DPU accretive.

News about Suntec REIT

Suntec Buys Adelaide Office Property

Suntec REIT has announced the purchase of an office building in Adelaide, Australia. Located at 55 Currie Street, the trust will pay A$148.3 million for a 100% stake in the freehold grade-A property, built in 1988.

The asset has 91.6% committed occupancy, 4.4 year WALE and is expected to provide an 8% yield and as such be DPU accretive. Funding will be provided through a private placement of new equity.

News about Mapletree Industrial Trust

Mapletree Industrial Trust Will Invest S$263m on a Property Redevelopment

Mapletree Industrial Trust will turn its factory cluster in Kallang Way, Singapore into a high-tech industrial precinct through a S$263 million redevelopment.

MIT has sufficient financial capacity to fund the project, the manager said. Assuming the redevelopment is fully funded by debt, the aggregate leverage ratio is expected to increase progressively from 33.8 per cent as at March 31 to 36 per cent upon completion of the project.

News about Ascott Residence Trust

Ascott REIT and Ascenda Hospitality Trust to Merge

After CapitaLand ended up acquiring Ascenda-Singbridge, the group has decided to merge the two hospitality trust under it's umbrella, Ascott REIT and Ascenda Hospitality Trust.

The consideration for the proposed merger is about S$1.2 billion, comprising S$61.8 million in cash and 902.8 million new units of the new enlarged entity, Ascott Reit-BT.

Through a trust scheme of arrangement, Ascott Reit will acquire all A-HTrust units for S$1.0868 per unit, comprising S$0.0543 in cash and 0.7942 Ascott Reit-BT units issued at a price of S$1.30.

The deal is announced to be DPU accretive for unitholders of both trusts.

News about Dasin Retail Trust

Dasin to Acquire Doumen Metro Mall

Dasin Retail Trust announce the planned acquisition of Doumen Metro Mall, a retail property in the Doumen District in Zhuhai, China. With about 75,637 m² of Net Lettable Area, the property has an occupancy rate of 99.7% and a Weighted Average Lease Expiry (by Gross Rental Income) of 5.8 years. It sits on land leased until 2052.

The cost of about S$317.1 million will be financed by debt and raising capital through a private placement, increasing the total number existing units by about 15.1%.

News about Suntec REIT

Suntec Buys Sydney Office for $297 Million AUD

Suntec REIT is announcing the acquisition of 21 Harris Street, a 9-storey Grade A commercial building in Sydney. Currently under construction and due to be completed next year, the property of 18,900 m² has a mix of retail and office space as well as a 170 car carpark.

The Property is 91.2% pre-committed and will be anchored by Publicis Groupe, a global communications and marketing company as their Sydney headquarter. The remaining pre-committed spaces will be leased to Campfire, an international co-working operator, as well as a childcare centre and a gym operator. The Developer will provide a rent guarantee on the unlet office space for three years post practical completion. The weighted average lease expiry of the Property (including rent guarantee) is approximately 10.2 years (by NLA) with an annual rental escalation of between 3.0% to 4.0%.

The manager expects the acquisition to be DPU accretive and will fund the operation with a mix of debt and equity.

Market news —

Prime US REIT to IPO, Priced at $0.88 USD

Another American-centered REIT will list in Singapore as Prime US REIT has filed for IPO. 335.2 million units, priced at USD 0.88, will be offered to the public on top of 360 million units taken by cornerstone investors (including Keppel Capital or SPH).

Prime US REIT prospectus shows that the trust owns 11 freehold prime office properties in the USA, with a long weighted average lease expiration (WALE) of 5.5 years. The manager forecast a 7.4% dividend yield for the 2019 year based on the listing price.

Market Averages

6.5% yield (using last quarter)
-5.6% discount to NAV