S-REITs - Week 47 - 2024

( YTD: -18.75% | 5D: -1.89%)

 20 Nov - Share Buy Back

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( YTD: +26.25% | 5D: +18.82%)

21 Nov - Redemption Of Preferred Units By Hancock S-REIT Sacramento LLC Which Used To Hold The Property Known As Capitol

• Hancock S-REIT Sacramento LLC (the “Subsidiary”), an indirect subsidiary of Manulife US REIT which held the Property, has redeemed all of its 115 outstanding preferred units held by the preferred unit holders of the Subsidiary, all of whom are unrelated to The Manufacturers Life Insurance Company and Manulife US REIT.
  
  
• The total redemption amount is approximately US$0.1 million and was funded from internal resources.
• For further information, please click here

( YTD: -6.20% | 5D: +0.83%)

18 - 20 Nov - Continues daily Share Buy-back

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( YTD: -2.26% | 5D: -0.57%)

22 Nov - Divestment of Figtree Grove for A$192 million

• Divestment expected to unlock value at 5% premium to market valuation
  
  
• PARAGON REIT has, through its 85% owned trust, Figtree Trust (the “Vendor”), entered into a put and call option deed (the “Option Deed”) with an unrelated party to divest the Vendor’s interest in Figtree Grove Shopping Centre (the “Property” or “Figtree Grove”) for a cash consideration (the “Divestment Consideration”) of A$192.0 million (the “Divestment”), which was arrived at on a willing buyer and willing seller basis after taking into account the independent valuation of the Property of A$183.0 million as at 31 October 2024.
  
  
• The Divestment Consideration of A$192.0 million reflects a A$9.0 million or 5% premium over the independent valuation of A$183.0 million as at 31 October 2024. The Divestment Consideration enables PARAGON REIT to divest at a premium while maintaining a strong foothold in its key markets.
  
  
• The net proceeds from the Divestment for PARAGON REIT’s 85% interest in the Property of approximately S$142.0 million will provide the Manager with greater financial flexibility to repay debt, to finance any capital expenditure, asset enhancement works and/or acquisitions, distribute to Unitholders and/or to finance general corporate and working capital requirements.

For further information, please click here