Featured Articles
Ever wonder how to start using CPF to buy shares? Do visit Using CPF to buy shares (CPF Investment Scheme CPFIS-OA)
Date of Release and Results links of the latest quarterly earnings report: Results Release
DPU History: Includes information such as DPU for the current and previous quarters, and the distribution frequency.

Directory

All about REIT Introduces concepts and terminologies about REIT.

Stock Target Price Stock target price or recommendations by brokerages.

About a Reit Talks about a particular REIT. Includes latest or historical performance, its business, and more.

Books and Thoughts About investment books and thoughts after reading.

REIT Financial News Latest financial news related to REIT

Commentary Commentary about news or trends affecting the REITs, or about the Market in general.

General Investment Tips, guide or thoughts about investment in general.

Earnings Report Quarterly Earnings Report.

Friday, June 10, 2011

A-REIT awarded Business Park site at Fusionopolis for S$110 million

A-REIT awarded Business Park site at Fusionopolis for S$110 million  :
Key Points
  • Further to the release “A-REIT tenders for Business Park Site at Fusionopolis for S$110 million” made by Ascendas Funds Management (S) Limited (the “Manager”) in its capacity as the Manager of Ascendas Real Estate Investment Trust (“A-REIT”) on 20 May 2011, the Manager is pleased to announce that Jurong Town Corporation (“JTC”) has awarded A-REIT the said site (the “Site”) at Fusionopolis for S$110 million.
  • Upon completion, expected in 3QFY2013/14, this development will strengthen A-REIT’s leading position in the Business & Science Parks segment and bring about economies of scale in operations. The high quality specification and good location of the proposed development will be attractive to target potential users.
  • In addition, this development will allow A-REIT to further widen its product offerings in catering to the knowledge and value-based type industries and gives it an opportunity to further diversify its customer base.”
Related Posts

Saturday, June 4, 2011

Standard & Poor's Reaffirms Cambridge Industrial Trust ("CIT") BBB-/Stable/-- Rating

Standard & Poor's Reaffirms Cambridge Industrial Trust ("CIT") BBB-/Stable/-- Rating:

Key Points
  • Cambridge Industrial Trust Management Limited, as manager of CIT, would like to announce that Standard & Poor's has reaffirmed the BBB-/Stable/-- credit rating of CIT in its report dated 1 June 2011.

Thursday, June 2, 2011

CacheLog marks foray into China with purchase of chemical warehouse facility

CacheLog marks foray into China with purchase of chemical warehouse facility  for RMB 71.0 million:
Key Points
  • Cache is acquiring a chemical warehouse facility in Shanghai from CWT Limited (“CWT”) via an acquisition and leaseback arrangement.
  • This acquisition marks Cache’s entry into China. 
  • The property is located in Jinshan District within the successful Shanghai Chemical Industrial Park (“SCIP”), one of the largest petrochemical bases in Asia.
  • Cache’s newly purchased facility is sited on a land area of 33,506 square metres, with a built-up gross floor area of about 13,547 square metres.
  • CWT is the Sponsor of Cache and the CWT properties in Asia-Pacific fall under the right of first refusal granted to Cache at the time of the IPO in April 2010.
  • This transaction marks the first successful acquisition of a CWT asset since the IPO. 
  • The consideration paid for the property is RMB 71.0 million (or approximately S$13.5 million).
  • CWT will leaseback the facility for a period of three years with an option for a further three years.
  • The net property income yield of 8.6% is higher than the Cache present portfolio of 7.6%. 
  • The average of the two valuations provided by CB Richard Ellis and Knight Frank Petty, who acted on behalf of the Manager and the Trustee respectively, is RMB 76.6 million (or approximately S$14.6 million).
  • The acquisition is accretive at the distribution level, with the annualised pro forma financial effect on Cache’s DPU for FY2011 expected to be an additional 0.03 cents per unit after applicable taxes in China, and offers the potential for future capital appreciation. 
  • The transaction also allows investors to gain exposure to a segment of the market which they may not be able to do so efficiently. 
  • Post-completion, Cache’s leverage will rise from 27.9% to 29.2%.
Author's Note
This is the second acquisition by CacheLog since its IPO, and a first from its sponsor CWT. It is also the first overseas acquisition.
Relted Posts

Wednesday, June 1, 2011

Saizen Reit Repays YK Shintoku loan

Saizen Reit Repays YK Shintoku loan:
Key Points
  • The manager Saizen REIT is pleased to announce that the loan of YK Shintoku had been fully repaid on 31 May 2011.
  • Following the completion of the Repayment and the cancellation of the mortgage over YK Shintoku’s property portfolio, YK Shintoku’s portfolio of 27 properties which is valued at approximately JPY 4.3 billion1 (S$65.6 million) will become unencumbered. 
  • Together with the property portfolios of YK Keizan, YK Shingen and GK Chosei, the total value of Saizen REIT’s unencumbered properties will amount to approximately JPY 14.9 billion (S$227.5 million).
  • After the Repayment, Saizen REIT’s borrowings comprise five loans amounting to approximately JPY 9.0 billion (S$137.4 million), with the nearest loan maturity due in June 2013. 
  • Saizen REIT’s gearing after the Repayment is approximately 24%.
Author's Note
The term "unencumbered" here means that the properties are not currently under any mortgage agreements, or are being used as collateral for loans. 

Related Posts

Saizen Reit Divests Alpha Shinonome and Rise Gofuku

Saizen Reit Divests Alpha Shinonome and Rise Gofuku:
Key Points
  • The manager Saizen REIT wishes to announce the divestments of Alpha Shinonome and Rise Gofuku from the property portfolio of Yugen Kaisha (“YK”) Shintoku.
  • YK Shintoku has, on 31 May 2011, entered into a sale and purchase agreement for the divestment of Alpha Shinonome (“ASN”) to an independent private investor (the “ASN Buyer”) for a cash consideration of JPY 74,402,500 (S$1.1 million 1 ) (the “ASN Sale Price”). The divestment of ASN was completed on the same day upon the payment of the full amount of the ASN Sale Price by the ASN Buyer.
  • ASN, located in Hiroshima, was built in December 1984 and comprises 27 residential units. It contributed about 0.2% (or approximately JPY 9.5 million) of Saizen REIT’s annual revenue in the financial year ended 30 June 2010 (“FY2010”).
  • YK Shintoku has, on 31 May 2011, entered into a sale and purchase agreement for the divestment of Rise Gofuku (“RG”) to an independent private investor (the “RG Buyer”) for a cash consideration of JPY 234,780,942 (S$3.6 million) (the “RG Sale Price”).
  • The divestment of RG was completed on the same day upon the payment of the full amount of the RG Sale Price by the RG Buyer.
  • RG, located in Kumamoto, was built in April 2006 and comprises 34 residential units, 1 commercial unit and 2 car parking units. It contributed about 0.6% (or approximately JPY 26.3 million) of Saizen REIT’s annual revenue in the FY2010.
  • Given the small sizes of ASN and RG relative to the entire portfolio of Saizen REIT, the Current Divestments are not expected to have any material impact on the financial position of Saizen REIT.
Related Posts
There was an error in this gadget