Two More Malls for Dasin Retail Trust

News about Dasin Retail Trust

Dasin Retail Trust is announcing the planned acquisition of two more Chinese malls, Shunde Metro Mall and Tanbei Metro Mall. Located both in the Guangdong province, the first one has an occupancy of 99.3% and a WALE (by GRI) of 5.2 years. Tanbei Metro Mall has an occupancy of 99.3% and a WALE (by GRI) of 7.7 years.

At a total cost of about S$333 million, the purchase will be funded by a mix of debt and equity. As such, the manager is looking to raise about S$98.4 by issuing up to 120 million new units at a price of S$0.82.

Dasin Retail Trust
Price0.830 SGD
NAV1.370 SGD
Yield (4 quarters)8.35%
Gearing36.4%