Frasers Logistics & Industrial Trust (FLT)

FLT raises $258.1 mil through private placement to help fund new acquisitions

SINGAPORE (July 31): Frasers Logistics & Industrial Trust (FLT) has raised $258.1 million through a private placement to partially fund its proposed acquisitions of 12 logistics properties in Australia and Germany.

See: Frasers Logistics & Industrial Trust to acquire stakes in 12 properties in Germany, Australia from sponsor for $482 mil

FLT declares 3.9% lower DPU of 1.73 cents for 3Q on currency movements

SINGAPORE (July 26): The manager of Frasers Logistics & Industrial Trust (FLT) reported 3Q19 DPU of 1.82 Australian cents, 3.4% higher than 1.76 Australian cents in 3Q18.

However, in Singapore dollar terms, 3Q19 DPU came in at 1.73 cents, a decrease of 3.9% from a year ago, due to the softening of the Aussie dollar and Euro against the Singdollar.

Frasers Property to combine group's industrial and logistics operations in Australia and Europe with FLT in FY2020

SINGAPORE (July 8): Frasers Property Limited is forming an integrated industrial and logistics platform by combining its industrial and logistics operations in Australia and Europe, and asset and property management of the group’s Singapore-listed Frasers Logistics & Industrial Trust (FLT).

An accretive acquisition for Frasers Logistics Trust, but only in the long run

SINGAPORE (July 5): Frasers Logistics & Industrial Trust (FLT) is proposing to acquire 12 freehold properties – nine in Germany and three in Australia – from its sponsor for A$644.7 million ($612.5 million) as part of its capital recycling strategy.

Nine of the 12 properties acquired are located in Germany, in the states of Berlin, Bavaria, Baden-Wurttemberg, Hesse and North Rhine-Westphalia. The three in Australia are located in Melbourne, Sydney and Brisbane. The purchase will be funded by a mix of equity and debt at a ratio to be decided.

Frasers Logistics & Industrial Trust bulks up in Germany

(July 8): Frasers Logistics & Industrial Trust’s latest proposed acquisition marks a round of capital recycling. Following a spate of recent divestments, FLT on July 3 announced that it was buying a portfolio of 12 logistics properties from its sponsor Frasers Property for A$644.7 million ($612.5 million), which is 1% off the appraised value.

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Frasers Logistics & Industrial Trust to acquire stakes in 12 properties in Germany, Australia from sponsor for $482 mil

SINGAPORE (July 3): The manager of Frasers Logistics & Industrial Trust (FLT) has announced the proposed acquisition of interests in 12 logistics properties in Germany and Australia from sponsor Frasers Property for a total consideration of A$507.2 million ($481.8 million).

The agreed property purchase price of the nine properties in Germany is approximately €320.3 million ($493.3 million), while the property purchase price of the three properties in Australia is approximately A$125.5 million.

FLT divests 50% interest in Queensland property for A$134.2 mil

SINGAPORE (June 13): The manager of Frasers Logistics & Industrial Trust (FLT) announced that it has through its wholly-owned sub-trust, divested 50% of its interest in the property at 99 Sandstone Place, Parkinson, Queensland, Australia, for a consideration of A$134.2 million ($127.2 million).

The purchaser is an entity managed by DWS, a global real estate investment manager.

The property is a cold storage distribution facility, which is currently leased to Coles Group. It has a total gross lettable area of 54,245 sqm and occupies a site of 155,300 sqm.

Frasers Logistics Trust partially divesting Australian asset for A$15 mil; seeks buyer for remaining components

SINGAPORE (May 16): The manager of Frasers Logistics & Industrial Trust (FLT) says it is divesting the warehouse and hardstand components of 610 Heatherton Road in Victoria, Australia, to Mack Bros Enterprises for A$15 million ($14.2 million).

The deal represents a 11.1% premium to the property as at 15 April this year, and is subject to FLT’s successful registration of its subdivision plans for the property with the relevant authorities.

Frasers Logistics cut to 'hold' by CGS-CIMB, OCBC on expected forex losses

SINGAPORE (May 2): CGS-CIMB Research and OCBC Investment Research have downgraded Frasers Logistics & Industrial Trust (FLT) to “hold” from “buy” with price targets of $1.21 and $1.20 respectively.

In 2Q19, FLT’s manager declared a DPU to 1.76 cents, 2.8% lower than a year ago due to the softening of AUD and EUR against SGD.

Revenue was 36.9% higher y-o-y at A$59.7 million, while adjusted NPI was up 43.3% to A$47.9 million from A$33.4 million in the previous year.

Frasers Logistics Trust's 2Q DPU falls 2.8% to 1.76 cents on forex changes

SINGAPORE (April 27): The manager of Frasers Logistics & Industrial Trust (FLT) has reported a 2Q distribution per unit (DPU) of 1.76 cents, down 2.8% on-year from 1.81 cents in 2Q18 due to the softening of the AUD and EUR against the SGD.

In AUD terms, DPU grew 7.1% to 1.82 Australian cents in 2Q19 from 1.70 Australian cents on higher revenue and adjusted net property income (NPI) after taking into account acquisitions from FY18.

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