--- title: S-REITs - Week 3 - 2024 description: Get the latest updates on S-REITs in this weekly recap. Discover the completion of a significant sale by Digital Core REIT, Cromwell European REIT's portfolio valuation, Lippo Malls Indonesia Retail Trust's dividend suspension, Elite Commercial REIT's oversubscribed offering, and EC World REIT's progress in resolving unauthorized mortgages. Don't miss out on the upcoming Singapore REITs Outlook session! 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Still thinking whether to enter into REITs? Join us in the upcoming Singapore REITs Outlook session! Announcement by Digital Core REIT,Cromwell European REIT, Lippo Malls Indonesia Retail Trust, Elite Commercial REIT, EC World REIT --- Get ready to dive into the exciting world of S-REITs with us! Before we kick off our weekly REITs update, we're delighted to share the thrilling news: ReitSavvy is teaming up with SGX to deliver the eagerly awaited 2024 S-REITs Outlook. This collaboration is set to empower investors with crucial insights, keeping you ahead of the curve. Brace yourself for an exhilarating journey into the realm of S-REITs opportunities! Limited seats available, so be sure to register early and commence your 2024 REITs journey on a positive note! **>>[Click here for registration<<](https://www.sgxacademy.com/event/seminar-singapore-reits-outlook-whats-ahead-for-2024/?doing_wp_cron=1703162645.5581068992614746093750)** **![20240127-SGX-REIT-Market-Outlook_Final](https://reitsavvy.com/hs-fs/hubfs/Others/20240127-SGX-REIT-Market-Outlook_Final.png?width=990&height=453&name=20240127-SGX-REIT-Market-Outlook_Final.png)** ---   **S-REITs Recap - Week 03** **15 Jan - 21 Jan 2024** | **Digital Core REIT** | | --- | | **( YTD: -1.55% )** | | Completion of sale of 2 Shell & Core facilities in Silicon Valley Digital Core REIT successfully concluded the sale of two Silicon Valley facilities to Brookfield Infrastructure Partners for $160.2 million, resolving the bankruptcy situation of an undisclosed customer.   The customer, a colocation and interconnection provider based in the US, recently sought Chapter 11 bankruptcy protection. They occupy three of Digital Core REIT's facilities in Silicon Valley, 100% of two facilities in Los Angeles, and 4% of the trust's freehold facility in Frankfurt, Germany.   As part of the agreement, the customer has transferred its existing lease agreement for the third Silicon Valley facility and leases for two Los Angeles facilities to Brookfield, as outlined in a Monday filing.   Additionally, the customer's lease for a freehold facility in Frankfurt has been terminated. For further information, please click [here](https://s28.q4cdn.com/669718746/files/doc_news/2024/01/Digital-Core-REIT-Divestment-Completion-Announcement-15-Jan-2024.pdf) | | **Cromwell European REIT** | | --- | | **( YTD: 0%)** | | CROMWELL EUROPEAN REIT’S PORTFOLIO VALUATIONS ONLY 1.5% LOWER FOR THE SIX MONTHS TO 31 DECEMBER 2023 Cromwell European REIT (CWBU) reported a marginal 1.5% decrease in its total portfolio valuation, which stood at 2.25 billion euros as of December 31, 2023, compared to the valuation on June 30, 2023.   The trust holds properties in various countries, including Finland, Germany, Italy, the Netherlands, the UK, Denmark, France, Czech Republic, Slovakia, and Poland,  For further information, please click [here](https://investor.cromwelleuropeanreit.com.sg/newsroom/20240115_065553_CWCU_0WE3YLBG0BI4UF64.1.pdf) | | **Lippo Malls Indonesia Retail Trust** | | --- | | **( YTD: -11.76% ) Dividend Suspended till further notice** | | Commencement Of Tender Offers By LMIRT Capital Pte. Ltd Lippo Malls Indonesia Retail Trust has initiated tender offers for two series of its existing senior bonds, as stated in a disclosure on Tuesday.   The trust has extended invitations to eligible holders of its 7.25% senior bonds maturing in 2024 and eligible holders of its 7.5% senior bonds maturing in 2026, urging them to submit their bonds for cash up to the total principal amount.   For further information, please click [here](https://lmir.listedcompany.com/newsroom/20240116_070000_D5IU_M1R59HQHUGA4HWN6.1.pdf) | | **Elite Commercial REIT** | | --- | | **( YTD: -5.36% )** | | Elite Commercial REIT preferential offering oversubscribed with subscription rate at more than 120%! Elite Commercial REIT (MXNU) secured 28 million pounds sterling through its fully underwritten non-renounceable preferential offering, achieving an impressive overall subscription rate of approximately 121.2%.   As part of the offering, 103,354,690 new units were made available at a rate of 214 preferential offering units for every 1,000 existing units for eligible unit holders. The pricing per preferential offering unit was set at 0.27 pounds, as outlined in a filing on Tuesday.   The trust's intention is to employ the proceeds from the offering for debt repayment and to decrease its overall leverage. For further information, please click [here](https://investor.elitecreit.com/newsroom/Elite_Commercial_REIT-Results_of_Preferential_Offering-Press_Release.pdf) | | **EC World REIT** | | --- | | **( YTD: - ) Trading Suspended till further notice** | | Summary of the week Update EC World Reit announced that the Chinese land regulator has lifted one of the three unauthorized mortgages placed on the trust's Chinese properties. These illegal mortgages were imposed on Hengde Logistics, along with two other properties, Fuzhou E Commerce and Fu Heng Warehouse, between Nov. 20, 2023, and Nov. 24, 2023, in favor of two Fuyang government-linked entities in China. The trust's sponsor is actively addressing the issue and is in the process of finding solutions to remove the remaining two illegal mortgages. \[Update 1\] - 15 Jan 2024 For further information, please click [here](https://ecwreit.listedcompany.com/newsroom/20240115_173733_BWCU_GL92LIJB5ULRK643.1.pdf) \[Update 2\] - 18 Jan 2024 For further information, please click [here](https://investor.elitecreit.com/newsroom/Elite_Commercial_REIT-Results_of_Preferential_Offering-Press_Release.pdf) | | **Singapore REITs Outlook: What's ahead for 2024** | | --- | |  ![20240127-SGX-REIT-Market-Outlook_Final](https://reitsavvy.com/hs-fs/hubfs/Others/20240127-SGX-REIT-Market-Outlook_Final.png?width=1552&height=710&name=20240127-SGX-REIT-Market-Outlook_Final.png) Limited seats are available, so be sure to register early and commence your 2024 REITs journey on a positive note! Free Registration! See you there! **>>[Click here for registration<<](https://www.sgxacademy.com/event/seminar-singapore-reits-outlook-whats-ahead-for-2024/?doing_wp_cron=1703162645.5581068992614746093750)** |   ![op can-4](https://reitsavvy.com/hubfs/op%20can-4.png) **[Insights](https://reitsavvy.com/insights)** **[REITs Screener](https://screener.reitsavvy.com/)** Unless otherwise specified, all return figures shown above are for illustrative purposes only, are not actual customer or model returns and are not indicative of future performance or results. Actual returns will vary greatly and depend on various factors including personal and market circumstances. Investment involves risk. It is important to note that the capital value of investments and the income from them may go down as well as up and may become valueless. Some of the statements contained in this website may be considered forward-looking statements which provide current expectations or forecasts of future events. 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