S-REITs - Week 51 - 2024

( YTD: -28.16% | 5D: -1.57%)

 10 Dec - Proposed Divestment Of A Property In Singapore

• Entered into a Purchase Agreement with an unrelated third party for the proposed divestment of 1 Genting Lane in Singapore at a sale price of S$12.3 million
  
  
• JTC Corporation has granted in-principle approval for the transaction subject to the parties complying with the stipulated conditions.
  
  
• Capital released from the divestment will provide MLT with greater financial flexibility to pursue investment opportunities in high specification, modern logistics facilities with higher growth potential.
  
  
• The Property is a 36-year old industrial building comprising a seven-storey warehouse with an office and showroom. It has a net lettable area of approximately 6,050 square metres (“sqm”) on a land site of around 3,372 sqm. The sale price of S$12.3 million is 35.2% above the latest valuation of S$9.1 million as at 1 October 2024.

For more information, please click here

( YTD: -16.83% | 5D: -1.18%)

17 Dec - CapitaLand Ascendas REIT To Expand Its US Logistics Portfolio With First Sale And Leaseback Acquisition From DHL USA For S$150.3 Million

• Property is fully occupied by the blue-chip tenant with a long lease term and annual rent escalations which provide income stability
  
  
• The proposed acquisition of DHL Indianapolis Logistics Center, a modern Class A logistics property
  
  
• The Property is located in Whiteland, a submarket in southeast Indianapolis, Indiana, in the United States 
  
  
• Rationale and Merits of the Proposed Acquisition
  1. Expands CLAR's existing logistics portfolio in the US
  2. Fully occupied by a blue-chip tenant with a long term lease which provide income stability
  3. Modern Class A logistics property enhances quality of CLAR’s portfolio
  4. Indianapolis’s logistics sector underpinned by its geographically central location and superior transportation networks
  5. Sound logistics market fundamentals in Indianapolis
  6. CLAR’s logistics portfolio is strategically well-positioned in the US
  7. Distribution per Unit (“DPU”) accretive acquisition

For further information, please click here

( YTD: +8.72% | 5D: -4.07%)

19 Dec - Loan Facility obtained by Keppel DC REIT Group

• Loan Facility
  • S$100,000,000 revolving credit facility
• Relevant Conditions
  • Under the terms and conditions of the Facility Agreement, the Borrower will be required to pay all outstanding loans together with accrued interest and all other moneys owing under or pursuant to the Loan Facility within 10 business days in the event that the Manager ceases to be a subsidiary (whether directly or indirectly) of Keppel Ltd.

For further information, please click here

( YTD: -21.87% | 5D: -1.96%)

18 Dec -  Share Buy Back - Daily Share Buy-Back Notice

• Repurchased 2,000,000 units at SG$0.2594 each

For further information, please click here

( YTD: -10.53% | 5D: -3.25%)

20 Dec -  Sustainability-Linked Facility Agreements

• Entered into a S$82.15 million sustainability-linked facility agreement and a S$75 million sustainability-linked facility agreement with institutional banks both on 19 December 2024

For further information, please click here

( YTD: -30.86% | 5D: +0%)

19 Dec -  IREIT Inks Another Major Hospitality Lease At Berlin Campus, Riding On Its Strong Leasing Momentum

• Long lease duration of 20 years with no break option, step-up rents in the first three years, and annual CPI indexation starting from the fourth year
  
  
• Commitment for total gross floor area of approximately 20,948 sqm (24% of net lettable space) at Berlin Campus now secured in advance of its strategic repositioning
  
  
• Positive leasing activity also experienced across IREIT’s portfolio assets, where new leases were recently secured at the German and Spanish properties

For further information, please click here

( YTD: -5.26% | 5D: -3.57%)

20 Dec - Divestment of Lippo Plaza Shanghai

• Divest the entire equity interest of Lippo Realty (Shanghai) Limited which owns 91.2% share of strata ownership of Lippo Plaza in Shanghai for a sale consideration of RMB1,917.0 million (approximately S$357.4 million) and an agreed property value of RMB1,680.0 million (approximately S$313.2 million).
  
  
• The estimated net property yield is 5.7% per annum
  
  
• Lippo Plaza is a non-core asset, contributing only 6.6% of OUE REIT’s total portfolio revenue as of September 2024

For further information, please click here

( YTD: +9.86% | 5D: -2.50%)

20 Dec - Divests Two Assets In Italy For EUR20.9 Million

• Entered into two separate sale and purchase agreements to divest two office assets in Italy
  1. Via Rampa Cavalcavia 16-18 in Venice Mestre (“Mestre”)
  2. Via della Fortezza, 8 in Florence (“Firenze”)
     
     
• Two divestments in Italy at a total price of €20.9 million (S$29.6 million1) at a blended 7.7% premium to the latest valuations.

For further information, please click here

Technical Analysis of FTSE ST REIT Index (FSTAS351020)

FTSE ST Real Estate Investment Trusts (FTSE ST REIT Index) decreased from 649.94 to 642.87 (-1.09%) compared to last month's update. Singapore REITs index is currently trading near the support level of a wedge pattern.

•    Short-term direction: Sideways
•    Medium-term direction: Sideways
•    Long-term direction: Sideways
•    Immediate Support: Blue Support Line (Wedge)
•    Immediate Resistance: Red resistance line (Wedge)

Want to read more with charts? Please click here