| Top 5 Yielder | Last | Yield | Disc. to NAV | Gearing |
|---|---|---|---|---|
| Acrophyte Hospitality Trust | 0.186 | 14.39% | 73.0% | 43.2% |
| First REIT | 0.250 | 9.60% | 14.3% | 39.3% |
| IREIT Global | 0.285 | 9.45% | 49.7% | 37.7% |
| Cromwell European REIT | 1.600 | 9.35% | 22.0% | 39.7% |
| Elite UK REIT | 0.295 | 9.25% | 24.4% | 45.1% |
| All Singapore REITsAll Malaysian REITsAll Thai REITs | ||||
In order to reduce its debt burden, Thai group Minor International is looking to float a hospitality REIT:
Minor currently has over 560 hotel properties in 57 countries, with most of its business in Europe through NH Hotel Group SA, which it acquired in 2018. The company also runs more than 2,600 restaurant outlets in 24 countries, with the majority located in Thailand.
At a gross price of S$1.38 billion, Keppel DC REIT will be purchasing from its sponsor Keppel a joint-venture unit, which owns the Keppel Data Centre Campus in Singapore:
Keppel DC REIT will have full ownership of data centres KDC SGP 7 and KDC SGP 8, while Keppel will maintain its operational and management roles for both, the companies said in a joint statement.
To fund the operation, an equity raising exercise of about S$1 billion is launched:
This comprises a private placement to raise around S$600 million in gross proceeds, and a non-renounceable preferential offering to raise gross proceeds of about S$300 million. It will also include an issuance of subscription units to raise about S$85 million.
CapitaLand Ascendas REIT is announcing the acquisition of a parcel of land and the development of a logistics property in Summerville, a submarket of Charleston, South Carolina, in the United States of America. The total estimated cost is cost of S$94.8 million.
On a pro forma basis, the property – Summerville Logistics Center – will increase the Reit's logistics assets under management in the US by 27.9 per cent to about S$434.1 million.
CapitaLand Integrated Commercial Trust (CICT) is announcing the divestment of 21 Collyer Quay, an office tower in Singapore's central business district, for S$688 million:
The sale price was arrived on a willing-buyer-willing-seller basis, in line with an independent valuation of the property conducted by Savills. Based on the consideration and the building’s annualised net property income for the period ended Sept 30, 2024, CICT’s exit yield is below 3.5%. Net proceeds from the divestment are anticipated to be around $681.7 million.
Starhill Global REIT has sold an office strata lot at the Wisma Atria property on Orchard Road, Singapore:
The disposal of the property, which comprises approximately 7,653 sqf of net lettable area, had a sale consideration of $16.1 million.
Parkway Life REIT is announcing the acquisition of 11 nursing homes in France for 111.2 million Euros (or about S$160 million):
The healthcare-focused Reit is buying the properties from DomusVi, a nursing home operator in France.
The properties will continue to be leased to DomusVi, under a new lease term of 12 years, after the deal goes through.
To fund the operation, the trust is realizing a private placement of S$180 million.
Capitaland Ascott Trust (CLAS) is announcing the divestment of Somerset Olympic Tower Tianjin:
“We continually reconstitute CLAS’ portfolio by divesting mature properties such as Somerset Olympic Tower Tianjin and redeploying the proceeds towards more optimal uses. In 1H 2024, CLAS’ properties in China contributed 1.4% to our total gross profit. The divestment of Somerset Olympic Tower Tianjin will have minimal impact on our gross profit. Post divestment, we will have four properties2 in China. With CLAS’ strong financial position, we stand ready to capture opportunities to deliver accretive growth for our Stapled Securityholders.”
Frasers Logistics & Commercial Trust (FLCT) is announcing the acquisition of a logistics facility in Tuas, Singapore:
The facility, located at 2 Tuas South Link 1, spans a net lettable area of 56,203 square metres and has an occupancy rate of 85.8 per cent.
The total acquisition cost will be paid in cash and funded through external debt financing, with the purchase price of S$140.3 million reflecting a 2.5 per cent discount from the property’s independent valuation of S$143.8 million, as at Sep 30.
CDL Hospitality Trust is acquiring a boutique hotel in Exeter, England:
In total, Hotel Indigo Exeter’s acquisition is estimated to cost approximately £21.5 million. This comprises the purchase price of £19.4 million and transactions costs such as stamp duty, an acquisition fee, professional due diligence and advisory fees amounting to about £2 million.
CapitaLand Ascendas REIT is selling its industrial property at Jalan Buroh (Singapore) for S$112.8 million:
This is nearly double the original purchase price of S$58.4 million, when the property was acquired in June 2006. It also represents a premium of S$45.3 million – or 67.1 per cent – to the average of two independent market valuations of the property, which was S$67.5 million as at Jul 1, 2024.