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Cache Logistics' Aussie acquisitions seen to strengthen portfolio and reaffirm diversification push

PC Lee
PC Lee2/2/2018 12:52 PM GMT+08  • 3 min read
Cache Logistics' Aussie acquisitions seen to strengthen portfolio and reaffirm diversification push
SINGAPORE (Feb 2): Maybank Kim Eng is upgrading Cache Logistics Trust to "buy" with a 95-cent target price given its proposed acquisition of a portfolio of properties in Australia for $177.6 million ($188.3 million).
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SINGAPORE (Feb 2): Maybank Kim Eng is upgrading Cache Logistics Trust to "buy" with a 95-cent target price given its proposed acquisition of a portfolio of properties in Australia for $177.6 million ($188.3 million).

The portfolio of nine logistics warehouse assets are expected to achieve an initial 6.4% NPI yield and increase CacheLog's Australian AUM contribution from 17% to 28%.

"We raised DPUs by 1-3% following its largest overseas acquisition to-date, at A$177.6 million or $188.3 million," says analyst Chua Su Tye in a Friday report.

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