CapitLand China Trust Buys 4 Logistics Property, Raises S$120M

News about CapitaLand China Trust

CapitaLand China Trust is announcing the acquisition of four logistics property in China, a first foray for the trust into the logistics segment. Located in Shanghai, Kunshan, Wuhan and Chengdu, the assets have an occupancy rate of 96.3% and an NPI yield of 5.0%.

The S$297.7 million transaction (including fees) is to be funded by debt and a private placement of S$120 million, creating 103,005,000 new shares offered at S$1.165 each. Consequently, the trust will be making an advanced distribution of 2.70 cents.

The manager expects the operation to be DPU accretive by +3.5% and increase assets under management by 8.0%.

CapitaLand China Trust
Price1.230 SGD
NAV1.530 SGD
Yield (4 quarters)6.15%
Gearing35.1%