| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| Prime US Reit | 0.525 | 13.28% | 39.0% | 37.8% |
| Manulife US REIT | 0.410 | 12.78% | 39.7% | 42.4% |
| EC World REIT | 0.490 | 12.18% | 41.7% | 39.1% |
| Elite Commercial REIT | 0.460 | 11.65% | 25.8% | 41.9% |
| Keppel Pacific Oak US REIT | 0.550 | 11.27% | 31.3% | 37.2% |
| All Singapore REITsAll Malaysian REITsAll Thai REITs | ||||
CapitaLand Investment wants people to know which REITs are it sponsors and is renaming Ascendas REIT, Ascott Residence Trust and Ascendas India Trust into CapitaLand Ascendas REIT (CLAR), CapitaLand Ascott Trust (CLAS) and CapitaLand India Trust (CLINT), respectively.
Ticker codes remain unchanged.
Digital Core REIT intends to invest in two data centres, one in Germany and the other in the USA. Two scenarios are being considered with different stakes:
The first would be to raise enough equity to finance the much larger deal of acquiring an 89.9 per cent interest in the Frankfurt facility and a 90 per cent interest in the Dallas data centre, with a total acquisition cost of US$700 million (S$993 million).
In the event the equity fund-raising is unsuccessful, Digital Core Reit will then only acquire a 25 per cent interest in the Frankfurt facility for US$146 million, which will be funded by debt.
The debt-funded transaction is expected to be approximately 2 per cent accretive to DPU, while the equity fund-raising scenario is expected to be approximately 3.1 per cent accretive.
Daiwa House Logistics Trust is making its first acquisition by purchasing two freehold logistics properties from its sponsor, along with a piece of land:
The aggregate purchase consideration for the Proposed Acquisition is JPY 4,676.0 million (S$47.7 million) (“Aggregate Purchase Consideration”), which is 11.8% lower than the average appraised value of the Target Portfolio of JPY 5,301.5 million (S$54.1 million) (“Aggregate Appraised Value”). The total acquisition cost of the Proposed Acquisition including acquisition and transaction-related expenses, shall be financed by a combination of bank borrowings and subscription of units in DHLT (“Units”) by the Sponsor amounting to JPY 1.25 billion.
The trust expects the operation to be yield accretive.
Parkway LIFE REIT isn't the only trust snapping up Japanese retirement homes as First REIT also announces the acquisition of two Japanese Nursing Homes in Kanagawa and Aichi prefectures:
The Properties, which are located near Tokyo and Nagoya city centres, have a combined net property yield of 5.20%.
Following the acquisitions, the geographical diversification of First REIT’s portfolio will be enhanced, with developed markets contributing to approximately one quarter of AUM.
The total purchase consideration is ¥J2.6 billion (approximately S$26.3 million).
There's no stopping Parkway Life REIT from expanding its portfolio of Japanese nursing homes with two more properties being added:
Newly-built in 2021, the Properties are freehold and well-located in residential areas of Tokyo and Chiba Prefectures with good connectivity and close proximity to the Tokyo Centre. The acquisition will see PLife REIT taking over the existing lease agreements of the Properties, with an average long balance lease term of approximately 29 years.
The ¥2,880 million purchase is expected to be yield-accretive.
Parkway Life REIT continues its expansion in the Japanese nursing home sector with the purchase of three more properties:
The Properties are well located with transportation connectivity within the residential areas of Ebetsu and Asahikawa Cities in Hokkaido Prefecture. The acquisition will see PLife REIT taking over the existing lease agreements of the Properties, with a balance lease term of approximately 19 years which will further improve PLife REIT’s weighted average lease expiry (by gross revenue) from 17.01 years to 17.05 years4. This will enhance the resiliency of PLife REIT’s earnings.
The cost of ¥2,558 million (about S$26.1 million) will be funded by debt.
Ascendas REIT is announcing the acquisition of a cold storage logistics property at 1 Buroh Lane (Singapore) for S$191.9 million. The 7 years-old property has 5 storey and is fully occupied with a WALE for 7.0 years.
The manager expects the operation to be DPU accretive.
Frasers Centrepoint Trust is announcing the acquisition of an extra 10.0% stake in the Waterway Point mall. At a cost of S$73.6 million, this will raise the trust ownership to 50%.
Frasers Hospitality Trust shareholders rejected the privatization offer of the sponsor, with a vote of 74.88% in favor, narrowly missing the 75% required.
Cromwell European REIT is announcing the sale of three industrial/logistics properties in Germany and France:
The Manager’s Chief Executive Officer Mr. Simon Garing said, “I am pleased to announce the divestment of three non-core assets in France and Germany, for a total price of €22.01 million (S$30.6 million), a blended €4.85m (+28%) premium to the latest June 2022 valuations2 of €17.15m. The 3 assets formed part of CEREIT’s IPO portfolio five years ago.