Price Gap Has Widened Between Listed And Unlisted Australian REITs: S&P March 11, 2023 – Investors have begun to cash out of wholesale Australian funds at favourable prices, rotating capital into discounted public markets. This rotation will weigh on credit quality as wholesale funds seek to divest assets or use debt to fund redemptions, according …
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Vicinity Centres’ Peter Huddle Appointed As Chief Executive Officer And Managing Director Jan 31, 2023 – Vicinity Centres announced the appointment of Mr Peter Huddle as Chief Executive Officer and Managing Director effective on February 1, 2023. Huddle, who has been Acting Chief Executive Officer for Vicinity since November 16, 2022, joined the Company as …
Dexus Says Six Properties Sold For AU$483 million Dec 21, 2022 – Australia-listed Dexus said it sold six properties for AU$483 million (US$322.72 million) Dexus has now secured approximately $69 million pre-tax trading profits to be recognised in FY23, plus approximately $5 million pre-tax trading profits to be recognised across FY23 and FY24, the company …
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CEO And Managing Director, Grant Kelley, To Retire From Vicinity Nov 4, 2022 – After more than five years in the role, Mr Kelley will retire from Vicinity by 30 June 2023, to facilitate a smooth and coordinated transition to his successor, the company said in an exchange statement. Vicinity will commence a search for Mr Kelley’s …
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Vicinity Centres’ Q1 FY23 Supported by Retail Resilience Oct 28, 2022 – Vicinity Centres announced its quarterly update for the three months ended September 30, 2022. Key highlights Leasing activity momentum in FY22 continued in 1Q FY23 with flat leasing spreads of -0.4% (FY22: -4.8%) Slight increase in occupancy to 98.4% (Jun-22: 98.3%) 95% of …
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Straits Real Estate Expands Industrial and Logistics Strategy in Australia September 30, 2022 – Singapore-based Straits Real Estate Pte. Ltd., through its wholly owned subsidiary, has completed its recently announced acquisition ofCanoga Industrial Investment Trust’s 20% stake in ILP Trust No. 1, bringing its shareholding to 100%. The Trust’s holdings comprise eight properties across Victoria …
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Rising Interest Rates A Risk To A-REIT Valuations, S&P Global Ratings Says The ratings agency, however, said REITs in Australia are still well-positioned for higher rates – for now. Analysis by Craig Parker, analyst at S&P Global Ratings. September 12, 2022 – “For the REIT sector, rising interest rates remain a risk to valuations, cash …
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Dexus Convenience Retail REIT DPS Up 5.5% August 8, 2022 – Dexus Convenience Retail REIT (DXC) announced its results for the full year ended June 2022, confirming a distribution of 23.1 cents per security. Highlights Statutory net profit of $82.6 million, up 11.9% on the prior year, primarily driven by higher rental income from acquisitions and …
Waypoint REIT Appoints New CFO July 5, 2022 – Following the resignation of Kerri Leech in April 2022, Waypoint REIT (WPR) announced that it has appointed Aditya Asawa as Chief Financial Officer after an extensive executive search process. Mr. Asawa has approximately 18 years’ experience in listed and unlisted real estate, with prior experience in …
REITS Lag Global Counterparts In Carbon Risk (The Australian Financial Review) June 17, 2022 –(The Australian Financial Review) Australian REITS lag their northern hemisphere counterparts in assessing the embodied carbon in their assets, putting investors at risk over the category of carbon that accounts for about 10 per cent of global emissions, First Sentier Investors’ …
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