United Hampshire US REIT maintains DPU in inaugural results and other APAC REIT news

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Singapore-listed United Hampshire US REIT (ODBU) reported US$11.3m in net property income for the June 2020 quarter, down 5.5% from its forecast, according to its earnings. 

The US-focused trust, which listed on the Singapore stock exchange in March this year, recorded a net loss after tax of US$649,000 for the period, but has maintained distribution per unit at US 1.78 cents per share as per forecast.

“Our inaugural financial results, which are in line with our IPO forecast, demonstrate the resiliency of our portfolio despite the COVID19 outbreak,” said Robert Schmitt, CEO of the REIT’s manager.

“Our grocery and necessity properties and self-storage properties which are in two economic cycle resilient sectors, are strategically located in high density suburban markets across the east coast of the US, and will continue to provide income stability. 

“In addition, with the accelerating suburb’s population growth trend that started in the mid-2010s and the higher suburban median income, the attractiveness of the suburban grocery-led centers is further accentuated.”

United Hampshire US REIT shares closed 1.89% higher at S$0.54.

Index Change Value at close
S&P/ASX 200 A-REIT 0.04% 1,266.60
S&P/ASX 200 -0.11% 6,132.00
FTSE ST REITS 0.11% 830.21
STI +0.75% 2,563.20
Tokyo Stock Exchange REIT +0.05% 1,676.31
Nikkei 225 +0.41% 22,843.96
Hang Seng REIT +1.07% 5,540.91
Hang Seng +1.42% 25,244.02

Australia: Charter Hall’s industrial fund receives A$50m investment from Clean Energy Finance Corporation

Australia’s Clean Energy Finance Corporation (CEFC) has invested A$50m into the Charter Hall Prime Industrial Fund (CPIF) to drive sustainability measures across the A$5.5bn portfolio.

CPIF, which is managed by ASX-listed Charter Hall, is one of Australia’s largest industrial and logistics funds, with 75 assets across Australia, including warehouses, industrial estates and distribution centres. 

“Australia has about 35 million square metres of industrial roof space – a largely untapped resource for energy efficiency improvements, solar PV and batteries that offers significant potential to provide clean energy as well as grid services,” said CEFC CEO Ian Learmonth.

“This investment will also lead to the construction of new assets that make use of the latest in sustainable design and materials, potentially driving uptake of materials identified in the federal government’s technology investment roadmap such as green steel, aluminium and cement, and delivering long term benefits to Australia’s emissions profile.” (Read more)

Charter Hall Group shares closed 0.54% lower at A$11.15.

In Australia, the biggest REIT moves were US Masters Residential Property Fund, which closed 4% lower at A$0.24, and Unibail-Rodamco-Westfield (URW), which jumped 7.59% to A$3.97.

Japan: Japan Real Estate secures JPY 11bn short-term loan

Japan Real Estate Investment Corp. (8952) has secured a JPY 11bn short-term loan from MUFG Bank to repay an existing short-term loan.

The new unsecured and unguaranteed loan matures in November this year, with an interest rate set at the three‐month JPY TIBOR plus 0.040%. 

The new loan has no impact on its borrowings, with total interest-bearing debt sitting at JPY 418.9bn. (Read more)

Japan Real Estate Investment Corp. shares closed 0.18% lower at JPY 540,000.

The biggest J-REIT swings were Starts Proceed Investment Corp. (8979), which rose 7.64% to JPY 201,400, and Kenedix Residential Next Investment Corp. (3278), which dipped 4.52% to JPY 186,100.

Singapore: Ascendas India Trust sets up S$7bn debt programme

SGX-listed Ascendas India Trust (CY6U) has established a S$7bn euro medium-term securities programme to fund acquisitions, refinance debt and more. 

Going forward, the REIT plans to issue notes or perpetual securities denominated in any currency as agreed between the trust and relevant parties under the medium-term debt programme.  

Oversea-Chinese Banking Corporation Limited has been appointed as sole arranger and dealer for the programme.

The trust may also use the proceeds to fund development and asset enhancement works, on-lending to any trust, fund or entity in which Ascendas Reit has an interest, and general working capital purposes. (Read more)

Ascendas India Trust stocks closed 0.73% lower at S$1.36.

The biggest S-REIT moves were CDL Hospitality Trusts (J85), which rose 3.16% to S$0.98, and Frasers Logistics & Commercial Trust (BUOU), which slipped 3.79% to S$1.27.