office space

Keppel REIT to benefit from lease renewals, Australia portfolio going forward: UOB

SINGAPORE (Mar 7): UOB Kay Hian is maintaining its “buy” call on Keppel REIT with a target price of $1.35 on expectations of the REIT to benefit from the full-year impact of leases, which were renewed in 2018, this year.

Based on the latest set of FY18 results, the research house likes the REIT for its high tenant retention of 83% and improved average signing rent for Singapore offices leases at $11.10 psf pm versus $9.80 in 2017.

Frasers Property acquires Dutch warehouse for $39.3 mil

SINGAPORE (May 25): Frasers Property has agreed to acquire a 100% stake in Dutch-incorporated company LocMeppel BV for a consideration of 25 million euros ($39.3 million).

The acquisition will be conducted via Frasers Property's indirect subsidiary Frasers Property Investments (Europe) BV and the transaction's vendors, LocMeppel BV and Acacia BV, the latter of which owns the legal and beneficial title to the entire issued and paid-up share capital of LocMeppel BV. 

Manulife US REIT 1Q DPU beats projections by 8.6% at 1.65 US cents

SINGAPORE (May 2): The manager of Manulife US REIT has announced a distribution per unit (DPU) of 1.65 US cents (2.3 cents) for the first quarter ended March 31, exceeding its projected DPU of 1.52 US cents by 8.6%.

Gross revenue came in at US$19.8 million, 1.3% below the projected US$20 million due to lower recoveries income, which is only recognised when applicable recoverable property operating expenses are incurred.

Goldman, Morgan Stanley signal London job moves ahead of Brexit

JP Morgan Chase & Co.

LONDON/NEW YORK (March 22): Senior Goldman Sachs Group Inc. and Morgan Stanley executives said they’re preparing to shift staff and operations from London to elsewhere in the European Union as Prime Minister Theresa May sets up the UK’s exit from the bloc.

A day after May’s office announced she will open two years of divorce talks with the EU on March 29, Richard Gnodde, co-head of investment banking at Goldman Sachs, told CNBC on Tuesday that his bank will initially relocate hundreds of London-based employees to expand other offices after the split.

China dominates property portfolio deals in 3Q

SINGAPORE (Nov 8): Commercial real-estate transaction volumes in Asia Pacific fell by 1.1% in 3QFY16 to US$30.4 billion ($42.2 billion), while development site sales fell 17% to US$76.3 billion.

According to findings by Real Capital Analytics, the marginal declines indicate that property investments are starting to stabilise following two consecutive quarters of decline.

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