OUE Commercial REIT (OUE C-REIT)

OUE C-REIT and OUE H-Trust in merger to create diversified S-REIT with $6.8b in assets
SINGAPORE (Apr 8): OUE Commercial REIT (OUE C-REIT) and OUE Hospitality Trust (OUE H-Trust) is proposing a merger to create one of the largest diversified S-REITs with total assets of up to $6.8 billion. The proposed merger will be effected by way of a trust scheme of arrangement with OUE C-REIT acquiring all the issued and paid-up securities in OUE H-Trust in exchange for a combination of ...
OUE C-REIT posts 21% increase in 4Q DPU to 0.75 cents
SINGAPORE (Jan 30): The manager of OUE Commercial REIT (OUE C-REIT) posted a 21.0% increase in 4Q18 DPU to 0.75 cents, compared to 0.62 cents in 4Q17. Amount distributable to unitholders was 21.6% higher y-o-y at $36.6 million. However, FY18 DPU dropped 3.9% to 3.48 cents from 3.62 cents in FY17, despite a 1.9% y-o-y increase in amount distributable to unitholders to $71.3 million, due to ...
OUE C-REIT rights issue for OUE Downtown offices acquisition ‘unabashedly’ dilutive
SINGAPORE (Sept 11): OUE Commercial REIT (OUE C-REIT) shocked the market on Tuesday morning by announcing an unabashedly dilutive rights issue, one not seen among the S-REITs since Sabana Shariah Compliant Industrial REIT’s announcement in Dec 2016. The rights issue comes as part of OUE C-REIT's plans to fund its acquisition of the office portion of OUE Downtown from its sponsor, OUE ...
OUE to dispose office components of OUE Downtown to OUE C-REIT for $908 mil
SINGAPORE (Sept 11): OUE property group is planning to dispose the office components of OUE Downtown to OUE Commercial Real Estate Investment Trust (OUE C-REIT) for $908 million on a willing-buyer and willing-seller basis. OUE, the sponsor of says OUE C-REIT, says the acquisition will unlock capital for higher growth reinvestment opportunities, provide a capital efficient platform for the ...
OUE Commercial REIT 2Q DPU drops 7.8% to 1.06 cents
SINGAPORE (Aug 2): The manager of OUE Commercial Real Estate Investment Trust (OUE C-REIT) reported 2Q18 DPU dropped 7.8% to 1.06 cents, compared to 1.15 cents in 2Q17. This brings DPU for 1H18 to 2.18 cents, 8.4% lower than 2.38 cents in 1H17. Revenue for the quarter came in at $43.1 million, 2.6% lower than $44.2 million a year ago. As property operating expenses dropped 3.4% y-o-y to ...
OUE Commercial REIT's makeover for One Raffles Place likely to improve shopper circulation: CIMB
SINGAPORE (Mar 23): CIMB says the asset enhancement initiative (AEI) for One Raffles Place (ORP) is likely to improve the mall’s shopper circulation, as well as create more open retail areas with better visibility. The other is the prospect of greater earnings visibility for OUE Commercial REIT (OUE C-REIT) through a longer-than-current-average lease term while having a larger single tenant ...
One Raffles Place to undergo AEI with launch of co-working space
SINGAPORE (Mar 21): OUE Commercial REIT (OUE C-REIT) announced that One Raffles Place Shopping Mall will be undergoing an asset enhancement initiative (AEI) from mid-2018 onwards. The highlight of the AEI will be a new co-working space called Spaces which will occupy more than 35,000 sf of space across a few levels. The six-storey retail mall located in the central business district ...
OUE Commercial REIT kept at 'hold' as office performance improves
SINGAPORE (Feb 1): OUE Commercial REIT (OUE C-REIT) on Wednesday announced that its DPU for 4Q17 has dropped 3.4% to 1.14 cents, compared to 1.18 cents in 4Q16, as a result of an enlarged unit base from the equity placement done in March 2017, bringing FY17 DPU to 4.67 cents. The REIT recorded $17.7 million available for distribution during the quarter, 14.6% higher than $15.4 million last ...
OUE Commercial REIT kept at 'hold' with further perp redemptions afoot
SINGAPORE (Dec 5): OCBC Investment Research is maintaining its “hold” call on OUE Commercial REIT (OUECT) with a target price of 67 cents. This came on the back of the trust announcing that it will be carrying out a redemption of 100 million convertible perpetual preferred units (CPPUs) at $1 per CPPU. Previously, these CPPU were issued to the trust’s sponsor as part payment for the ...
OUE Commercial REIT kept at 'hold' as more time needed for positive rental reversions
SINGAPORE (Nov 6): OCBC Investment Research is keeping its “hold” rating on OUE Commercial REIT (OUE C-REIT) with an unchanged fair value estimate of 67 cents. “While office rents in Singapore appear to be bottoming out, it is apparent that more time will be needed for positive rental reversions to surface,” says OCBC lead analyst Joseph Ng in a report on Nov 3. This comes after OUE ...