Staff Writer, Author at REIT AsiaPac

Mapletree Logistics Trust To Sell Japan Property For S$95.5 Million

Sept 1, 2023 – Mapletree Logistics Trust (MLT) plans to sell Moriya Centre in Japan for JPY10,030 million, or approximately S$95.5 million, its manager said in a statement. Located in Moriya, Ibaraki, the property comprises three blocks of four-storey industrial buildings and ancillary offices with an average age of 17 years and a total net lettable …

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Frasers Centrepoint Trust Sells Hektar REIT Stake For MYR128.1 Million (S$37.4 Million)

Oct 1, 2023 – Frasers Centrepoint Trust (FCT) plans to divest 143,898,398 units in Hektar Real Estate Investment Trust. FCT held 154,458,326 Hektar REIT Units, representing approximately 30.97% of the total number of 498,787,970 Hektar REIT units in issue, FCT’s manager said in a statement. Following the completion of the divestment, FCT would hold 10,559,928 Hektar …

Frasers Centrepoint Trust Sells Hektar REIT Stake For MYR128.1 Million (S$37.4 Million) Read More »

CapitaLand Ascott Trust Divests Four Serviced Residences In France For S$64.7 Million

Sept 25 – CapitaLand Ascott Trust (CLAS) has completed the divestment of four mature serviced residences in regional France to an unrelated third party for a total of EUR44.4 million (S$64.7 million1), according to a stock exchange filing. The four properties are Citadines Croisette Cannes, Citadines Prado Chanot Marseille, Citadines Castellane Marseille and Citadines City Centre Lille. …

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EC World REIT Takes Steps To Avoid Default, Consider Asset Sales

Sept 27 – EC World REIT manager said it will take steps to work with its sponsor on a rent repayment plan as well as appoint independent consultants on asset divestments. Read more here.

EC World To Defer Distribution Payments to Forchn Global And Forchn International

Sept 14, 2023 – EC World Asset Management Pte. Ltd. said it received requests from unitholders Forchn International and Forchn Global to defer distribution payments. It said the agreements were entered into on September 14, 2023:

Japan Q2 Real Estate Transaction Volume Down 25%, Office Transactions Fell 70% Year-On-Year; Logistics Up

Sept 4, 2023 -Japan’s real estate transaction volume in the second quarter (April to June) of 2023 reached 547.7 billion yen (US$3.8 billion], down 25% year-on-year, according to data compiled by Nikkei Real Estate market report. The number of sales transactions was up 14% year-on-year at 361. A total of 38 properties worth 219.3 billion …

Japan Q2 Real Estate Transaction Volume Down 25%, Office Transactions Fell 70% Year-On-Year; Logistics Up Read More »

Asia Pacific REITs Underperformance Against Equities Eases In August, Retail Sector Falls 5.5%

By Jeroen Vreeker, Managing Director, Global Property Research Sept 4, 2023 – The GPR/APREA Composite REIT Index fell 2.5% in August 2023, suffering a setback in sentiment after the 3.5% gain realised in the previous month. On a positive note, the underperformance of Asia Pacific REITs versus regional equities eased. The table below shows the …

Asia Pacific REITs Underperformance Against Equities Eases In August, Retail Sector Falls 5.5% Read More »

Abacus Group Reported 14.1% Revenue Increase, Net Profit After Tax Down 95.1% Due to Fair Value Adjustments

August 18, 2023 – Australia’s Abacus Group reported a 14.1% increase in revenue to A$400.7 million for the 12 months to June 30, 2023.. This was driven largely by a 17.1% increase in rental income to A$348.3 million. Funds from Operations climbed 8.8% to A$175 million Net profit after tax was A$25.5 million, down 95.1% …

Abacus Group Reported 14.1% Revenue Increase, Net Profit After Tax Down 95.1% Due to Fair Value Adjustments Read More »

Manulife US REIT 1H Net Property Income Down 3.9%, Distributions Halted

August 14, 2023 – Manulife US Real Estate Investment Trust (MUST) reported a gross revenue of US$99.6 million for the half year ended June 30, 2023, which was 0.8% lower year-on-year from 1H 2022, its manager said in a statement Net property income dipped 3.9% to US$55.4 million, while distributable income decreased 17.4% to US$37.9 million. This was …

Manulife US REIT 1H Net Property Income Down 3.9%, Distributions Halted Read More »

Regal REIT’s Interim to June Rental and Hotel Income Down 13.5%, No Dividends Declared

August 25, 2023 – Regal REIT net rental and hotel income for the six months ended June 30, 2023 amounted to HK$294.3 million, 13.5% below that in the same period in 2022. It recorded an unaudited consolidated profit before distribution to unitholders of HK$105.2 million, as compared to a profit of HK$613.1 million for the …

Regal REIT’s Interim to June Rental and Hotel Income Down 13.5%, No Dividends Declared Read More »

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Staff Writer