[In REIT we TRUST] Perennial to be privatised....
[video=youtube]From Discover on Google https://www.todayonline.com/singapore/lu...r-startups[/video]
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Mapletree Investments, MIT complete acquisition of 10 data centres

A JOINT venture (JV) between Mapletree Investments and Mapletree Industrial Trust (MIT) has completed the acquisition of 10 powered shell data centres in North America for some US$557.3 million.

The deal with data centre provider Digital Realty was completed on Tuesday, MIT's manager said in a regulatory filing on Wednesday morning.

MIT announced last September that the 50:50 JV, called Mapletree Rosewood Data Centre Trust, will also enter into a venture with Digital Realty to co-invest in three existing Digital Realty fully fitted hyperscale data centres (called the Turn-Key Flex data centres) for US$810.6 million.

The JV will have an 80 per cent interest in the Turn-Key portfolio.

Following the acquisition of the 10 data centres, MIT's portfolio comprises 87 industrial properties in Singapore, and 27 data centres in North America, its manager said on Wednesday.
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Frasers Commercial Trust posts flat Q1 DPU of 2.4 S cents

MAINBOARD-LISTED Frasers Commercial Trust (FCOT) on Wednesday declared a distribution per unit (DPU) of 2.4 Singapore cents for the first quarter ended December, unchanged from a year ago.

Gross revenue rose 19.8 per cent year-on-year to S$37.8 million, while net property income (NPI) grew 26.5 per cent to S$26.7 million, boosted by higher rental income for China Square Central, Alexandra Technopark, Central Park and 357 Collins Street, as well as lower utilities expenses for Alexandra Technopark.

Including the contributions from Farnborough Business Park (FBP) in the UK, which is held as a joint venture, FCOT's aggregate NPI would have been S$29 million, marking a 17.4 per cent year-on-year rise.

The portfolio committed occupancy rate also inched up to 95.2 per cent as at end-2019, compared to 95 per cent at the end of the previous quarter. The occupancy rates for the Singapore portfolio, the Australia portfolio and FBP as at end-2019 were 95.5 per cent, 94 per cent and 99.1 per cent respectively.
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Relentless bo beh chow....

TODAY....
Mapletree Log Trust breaks all time record high to close at $1.82
Mapletree Industrial Trust breaks all time record high to close at $2.80
Mapletree Com Trust breaks all time record high to close at $248
Keppel DC REIT breaks all time record high to close at $2.28

Many others are closing in on their world records.....
This is no joke.
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Ascott opens serviced residence in Japan

CAPITALAND'S wholly-owned lodging business unit, The Ascott, has opened a serviced residence in Osaka, Japan.

The new property, Citadines Namba Osaka, offers 313 units with varied apartment types. It sits in Osaka's popular entertainment and shipping district, and is surrounded by commercial buildings, Ascott said in a media statement on Monday.

It houses studio apartment, studio executive apartments with fully equipped kitchens, as well as one- and two-bedroom units, catering to guests on both short and long stays.

Ascott is operating the serviced residence through a master lease agreement with Toshin Development Company, a subsidiary of Asian department store business Takashimaya Group.

In 2021, Ascott will also open lyf Tenjin Fukuoka, the first co-living property in Japan under its "lyf" brand, which caters to millennials and the "millennial-minded", said Tan Lai Seng, Ascott’s regional manager for Japan and Korea.
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ARA H-Trust completes acquisition of three US hotels for US$84m

ARA US Hospitality Trust (ARA H-Trust) has completed the acquisition of three US hotels for US$84 million, its managers said in a bourse filing on Monday.

The freehold properties are AC by Marriott Raleigh North Hills in North Carolina, as well as Courtyard San Antonio and Residence Inn San Antonio both in The Rim shopping district in Texas.

Parties agreed on a final price of US$84 million, which is a 5.5 per cent discount to the three hotels' total market value of US$88.9 million as at Dec 1, 2019, according to independent valuer HVS Consulting and Valuation Services.
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Keppel Infrastructure Trust posts Q4 DPU of 0.93 S cent

KEPPEL Infrastructure Trust (KIT) on Monday announced a distribution per unit (DPU) of 0.93 Singapore cent for the fourth quarter ended Dec 31, 2019, unchanged from a year ago.

DPU was flat despite the trust having recorded a higher distributable cash flow (DCF) for the fourth quarter. DCF was S$38.9 million, 13.7 per cent higher than a year ago. The DPU will be paid on Feb 14.

Profit attributable to unitholders was up 44.4 per cent to S$29.5 million, mainly due to consolidation of results from Ixom HoldCo, which was acquired in February 2019.

Revenue more than doubled to S$422.8 million, driven by contributions from Ixom of S$264.3 million.
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Mapletree Logistics Trust posts Q3 DPU of 2.044 S cents

MAPLETREE Logistics Trust (MLT) on Monday posted a distribution per unit (DPU) of 2.044 Singapore cents on an enlarged unit base for the third quarter ended Dec 31, 2019, up from a DPU of 2.002 cents a year ago.

Income available for distribution climbed 6.5 per cent year-on-year to S$76.6 million. The books closure date is Jan 29, and payment will be made on March 6.

Net property income increased 3.9 per cent to S$108.6 million.

Gross revenue edged up slightly by 0.3 per cent to S$121.1 million, mainly due to higher revenue from existing properties and acquisitions in Australia, South Korea and Vietnam. This was partly offset by the absence of revenue from five divestments done in the first quarter, and the impact of weaker currencies.
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'Sequential improvements' ahead for MNACT despite sluggish 3Q results: OCBC

Even as the closure of Festival Walk mall in Hong Kong burned a hole in Mapletree North Asia Commercial Trust’s (MNACT) results for 3QFY2020 ended December 2019, OCBC Investment Research remains optimistic on the REIT’s outlook.

MNACT posted a distribution per unit (DPU) of 1.67 cents for 3QFY2020, down some 13.3% from 1.93 cents a year ago. This had included a distribution top-up to partially offset the impact of Festival Walk’s closure.

Festival Walk, which is MNACT’s most valuable asset, had suffered “extensive damage” amid the Hong Kong protests. Amid worsening city-wide disruptions, Festival Walk had shut its doors on Nov 12, with the REIT’s manager saying that damage assessments were ongoing.

Revenue for the quarter slumped 36.3% to $67.3 million on the back of lower contributions from Festival Walk, Gateway Plaza in Beijing, China, as well as one of its Japan properties.

Consequently, net property income for the quarter fell 40% to $50.8 million.
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MNACT’s proposed acquisitions of two office properties in Tokyo would serve to mitigate Festival Walk’s impact on its distributable income.

“The two properties are expected to contribute to the diversification of MNACT and at the same time, reduce the income and asset concentration of Festival Walk,” the manager said.

“When the insurance claims proceeds are received, any amount which exceeds the distribution top-ups, which are funded from capital, will be paid as distributable income from operations to the unitholders,” it added.

Although the stark declines across several financial metrics could cause investors some worry, OCBC believes the worst is over, and that sequential improvements are in the pipeline especially amid Festival Walk’s reopening on Jan 16.

For a start, OCBC analysts opine that the results were ‘in line with expectations’. In fact, on a 9MFY20 basis, the REIT’s DPU amounted to 75.3% of its FY20 forecast.

Apart from Festival Walk, the brokerage notes that the general climate in Japan and China have been challenging to the REIT too.

“There was also weaker contribution from Japan due to the expiry of a single tenancy and from Gateway Plaza as a result of higher vacancies,” OCBC says.

However, the challenging times could well be over for MNACT. “We believe the worst is likely over for MNACT, although uncertainties remain,” it notes.

With Festival Walk having reopened ahead of management’s previous expectations, OCBC highlights how the mall has insurance coverage on physical damage and business interruption which would cover for the loss of rental income.

Analysts note that other potential catalysts for the group include further acquisitions in the commercial markets of both Japan and Greater China, as well as better-than-expected momentum in footfall and tenants’ sales at Festival Walk.
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