real estate investment trust

Soilbuild REIT disposes 72 Loyang Way asset for $34.1 mil with remaining lease of 19 years

SINGAPORE (Mar 21): Soilbuild Business Space REIT (Soilbuild REIT) has agreed to sell its industrial property at 72 Loyang Way, and all of its mechanical electrical equipment, to Kim Hock Enterprise for a total consideration of $34.08 million.

The REIT is expecting net proceeds of about $34.055 million after accounting for divestment-related expenses, resulting in an estimated net gain of $55,000.

New broom sweeps clean for Sabana REIT’s unitholders

SINGAPORE (Apr 16): In a Singapore Exchange filing, e-Shang Redwood (ESR), a pan-Asia logistics real estate developer, which is the sponsor and major shareholder of ESR-REIT, announced that it held a 7.05% stake in Sabana Shariah Compliant Industrial REIT as at April 6.

Sabana REIT’s net asset value as at Dec 31 was 53 cents and the real estate investment trust is one of a handful of REITs trading below their NAV. Asked for his view on ESR’s increasing its stake, Donald Han, CEO of Sabana REIT’s manager, says: “It’s good value to buy at 42 cents when the NAV is [53] cents.”

One REIT to benefit from a rebounding US economy

Manulife

SINGAPORE (Nov 23): RHB Singapore is initiating coverage on Manulife US REIT with a "buy” recommendation with a target price of 96 US cents ($1.37).

As the first and only listed US office REIT in Asia, Manulife US REIT’s portfolio comprises three US freehold office properties with a total value of about US$813.2 million.

“We believe Manulife US REIT offers a compelling value proposition for yield-hungry cum growth-oriented investors,” comments analyst Vijay Natarajan in a Wednesday report.

Parkway Life REIT’s 3Q DPU falls 8.8% to 3.06 cents on absence of one-off gain

SINGAPORE (Oct 27): Parkway Life REIT (PLife REIT) has declared a distribution per unit (DPU) of 3.06 cents for 3Q16, 8.8% lower than the 3.36 cents in the same period a year ago.

This was mainly due to the absence of one-off distribution of the $9.11 million divestment gain which was equally distributed in the four quarters in FY2015.

Gross revenue for the quarter grew 8.2% to $28.1 million.

Parkway Life REIT posts 10.2% drop in 2Q DPU to 3.01 cents on absence of one-off gain

SINGAPORE (July 26): Parkway Life REIT (PLife REIT) has declared a 2Q DPU of 3.01 cents, which is 10.2% lower than the DPU of 3.35 cents a year ago.

This was due to the absence of one-off distribution of divestment gain recorded for the corresponding period in 2015.

However, DPU from recurring operations continued to grow 1.2% year-on-year.

For the period under review, PLife REIT saw a gross revenue increase of 6.8% rise to $27.39 million from $25.65 million.

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