Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific on Friday, 12 June 2020.
The FTSE ST Real Estate Investment Trusts index declined 1.19% to 823.64, while the Straits Times index closed 0.72% lower at 2,684.63.
After the markets closed on Friday, Lendlease Global REIT (JYEU) announced it had won a tender to redevelop the 48,200 sq.ft. Grange Road car park site in Singapore into a new multi-functional event space.
The S$10m project will expand Lendlease’s 313@somerset complex, growing its net lettable area to approximately 330,000 sq.ft.
After the bell on Thursday, Starhill Global REIT (P40U) told shareholders in a statement that its upcoming distribution for the half-year period ending June would be below 90% of taxable income this year due to COVID-19. Starhill shares closed 1.83% lower at S$0.54 on Friday.
The S&P/ASX 200 A-REIT index dipped 1.80% to 1,252.70, in line with the S&P/ASX 200 index, which fell 1.89% to 5,847.80.
The industrial REIT was among a handful of A-REIT stocks that finished trading higher, joined by Ingenia Communities Group (INA) and Waypoint REIT (WPR), which gained 1.67% and 0.75%, respectively.
Unibail-Rodamco-Westfield (URW) shares sank 8.82% to A$4.55, followed by Australian Unity Office Fund (AOF), which 6.09% to A$2.16.
The Tokyo Stock Exchange REIT index edged 0.47% higher to 1,716.68, while the Nikkei 225 index slipped 0.74% to 22,305.48.
Shares in Industrial & Infrastructure Fund Investment Corp. (3249) surged 3.60% to JPY 164,000 after announcing plans to acquire a 3% interest in IIF Shonan Health Innovation Park in Fujisawa-shi for JPY 1.16bn.
The asset is one of Takeda Pharmaceutical’s largest research and development facilities in Japan. The sale-leaseback deal with Takeda Pharmaceutical features a 6.5% NOI yield, or a 6.2% yield after additional capex, the company said.
The Hang Seng REIT index fell 0.64% to 5,688.73, and the Hang Seng index finished trading 0.73% lower at 24,301.38.
In New Zealand, most REITs closed lower, with Kiwi Property Group Ltd. (KPG) shares shedding 4.65% to NZ$1.03.
In South Korea, most listed REITs finished trading in the red, with Shinhan Alpha REIT Co. Ltd. (293940) shares closing 2.03% lower at KRW 6,750.
Learn more about Asia Pacific REITs:
|REITS in Australia||REITs in Thailand|
|REITs in Japan||REITs in Taiwan|
|REITs in Singapore||REITs in Korea|
|REITs in Hong Kong||REITs in New Zealand|
|REITs in Malaysia||REITs in India|