Singapore

IREIT Global To Raise S$126.7 Million (US$94.2 Million) From Proposed Equity Fund Raising June 22, 2021 – In a recent statement, IREIT Global said it is proposing an equity fund raising comprising an offering of new units in IREIT to raise gross proceeds of approximately S$126.7 million (US$94.2 million). The proposed equity fund raising will be comprised […]

Suntec REIT Divests 9 Penang Road June 17, 2021 – Suntec REIT announced the divestment of its 30.0% interest in 9 Penang Road to Haiyi Holdings Pte. Ltd. at an agreed property value of S$295.5 million (US$221 million) or S$2,468 (US$1,847) per square foot (“psf”) based on the property’s net lettable area (“NLA”). The agreed

Ascott and Ascott Residence Trust Jointly Invest In Student Accomodation Property in US June 16, 2021 – The Ascott Limited (Ascott) and its hospitality trust, Ascott Residence Trust (ART), will jointly invest and develop a freehold student accommodation asset located in South Carolina, USA for an expected total amount of US$109.9 million (S$146.2 million). Construction of the

Manulife US REIT Obtains Revolving Credit Facility June 16, 2021 – Manulife US REIT announced that it has obtained a new US$200 million unsecured and uncommitted revolving credit facility. The Facility will be used as bridge financing for acquisition of properties. The facility letter includes several conditions that provide that it would be an event

SGX Launches World’s First ESG REIT Derivatives (The Straits Times) June 15, 2021 – The Singapore Exchange (SGX) has launched what it calls the world’s first environmental, social and governance (ESG) real estate investment trust (Reit) derivatives. The new SGX Nikkei ESG-Reit Index Futures contract aims to meet rising demand for integrating ESG considerations into investment portfolios, the Singapore

OCBC Bank Closes Sustainability-Linked Swap With Far East Hospitality Trust June 11, 2021 – OCBC Bank has executed a sustainability-linked interest rate swap with Far East Hospitality Real Estate Investment Trust (Far East H-REIT), as the Bank moves to increase its offerings of sustainable products to corporate and institutional clients as part of its broader sustainability drive.

Lendlease Global Commercial REIT to Increase Stake in Jem  June 8, 2021 – Lendlease Global Commercial REIT announced that they have decided to increase its stake in Jem. The REIT said the move is expected to boost income diversification and resiliency. LREIT will leverage its strong balance sheet to fund this acquisition through debt or a

Ascendas REIT Divests Three Logistics Properties in Australia June 4, 2021 – Ascendas REIT announced that it has today entered into two separate agreements with unrelated purchasers for the sale of two logistics properties located in Brisbane and one logistics property located in Melbourne, Australia. The total sale price for the three properties is S$128

Fitch Downgrades Ascott REIT To ‘BBB-‘ June 3, 2021 – Fitch Ratings has downgraded Singapore-based hospitality trust Ascott Real Estate Investment Trust’s (Ascott REIT) Issuer Default Rating (IDR) to ‘BBB-‘, from ‘BBB’. The Outlook is Stable. The downgrade reflects the impact of the coronavirus pandemic on Ascott REIT’s credit metrics and a longer recovery path