| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| Sasseur Real Estate Investment Trust | 0.800 | 8.48% | 10.1% | 29.2% |
| Soilbuild Business Space REIT | 0.610 | 8.46% | 1.6% | 39.3% |
| EC World REIT | 0.745 | 8.34% | 15.3% | 31.3% |
| Lippo Malls Indonesia Retail Trust | 0.235 | 8.21% | 20.4% | 33.9% |
| Dasin Retail Trust | 0.875 | 8.11% | 38.8% | 31.9% |
| All Singapore REITsAll Malaysian REITs | ||||
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.
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.
Frasers Logistics & Industrial Trust is announcing the purchase of 12 logistics properties in Germany and Australia. The prime, freehold properties have a long Weight Average Lease Expiry (WALE) of 8.6 years, 100% occupancy and the acquisition cost of A$644.7 million will be funded by debt and equity.
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.
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%.
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.
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.
Cromwell European REIT continues expanding by announcing the acquisition of 3 more properties in France and 3 in Poland. At a total cost of 246.9 million €, all the properties are freehold and offer a combined 7.4% Net Initial Yield.
Subsequently, the trust succesfully raised 150 million € in a private placement at 0.46 € per unit. The manager expects this expansion to be DPU accretive.
Fortune REIT, a Hong-Kong real estate trust listed in both Hong-Kong (mainly) and Singapore, will soon leave the Singapore Stock Exchange to streamline it's operation and reduce regulatory compliance costs.
As at Wednesday, there were 374.9 million units listed on SGX, which comprise about 19.4 per cent of Fortune Reit's total units in issue.
ESR REIT has issued multiple announcements :
Investment into a new industrial property at 48 Pandan Road, Singapore ; through a 49% investment in a joint-venture. The property is a 6 storey general warehouse with a land tenure of 24 year leasehold. The aquisition cost for the trust is about S$44.4 millions and the manager expects it to be DPU accretive.
An asset enhancement initiative on two existing properties, at a cost of about S$45.7 millions
An equity raise of about $S150 millions to finance the above operations and repay some debt, with about S$75 million through a preferential offering to existing unit holders and S$75 million (with a S$25 millions upsize option) via private placement.
The manager expects the followings to decrease leverage from 42.0% to 40.3%.