Charter Hall, GIC buy convenience retail portfolio stake for A$682m and other APAC REIT news

You are here : Home » News » Charter Hall, GIC buy convenience retail portfolio stake for A$682m and other APAC REIT news

ASX-listed Charter Hall Group (CHC) and Singaporean sovereign wealth fund GIC have teamed up to buy a 49% stake in a convenience retail portfolio in Australia in A$682m. 

The Ampol property trust will comprise 203 properties, with initial lease terms ranging from 11 through to 22 years. 

The portfolio will have a 19.2-year WALE and 10-year initial option terms, plus multiple five-year options thereafter. 

The properties will be subject to CPI annual rent reviews, with minimum 2% and maximum 5% increases per annum.

“This off market transaction follows regular dialogue with the Ampol team over the past two years and reinforces our confidence in the convenience retail sector,” said managing director and group CEO David Harrison. (Read more)

Charter Hall shares closed 0.81% higher to A$11.25.

Index Change Value at close
S&P/ASX 200 A-REIT -0.53% 1,259.40
S&P/ASX 200 -0.81% 6,076.40
FTSE ST REITS +0.41% 838.86
STI -0.38% 2,571.55
Tokyo Stock Exchange REIT +0.30% 1,689.25
Nikkei 225 -0.83% 23,096.75
Hang Seng REIT +0.60% 5,587.33
Hang Seng +0.65% 25,347.34

Singapore: Mapletree Industrial Trust offloads data centre for S$125m

Equinix Singapore has exercised the option to purchase a seven-storey data centre in Singapore from Mapletree Industrial Trust (ME8U) for S$125m. 

The property at 26A Ayer Rajah Crescent has 384,802 sq.ft. of gross floor area and is fully-let to Equinix. 

The build-to-suit data centre was developed by the REIT on a 30-year land lease, which commenced in 2013.

Mapletree Industrial Trust said the sale price represented a 23.3% premium to the development cost of S$101.4m. (Read more)

Mapletree Industrial Trust shares closed 0.96% higher to S$3.14.

Japan: Nippon Building buys three offices for JPY 40.2bn

Nippon Building Fund Inc. (8951) has acquired three office properties in Tokyo and Nagoya from Mitsui Fudosan for JPY 40.2bn.

The fund bought the 6,070 sq.m. Osaki Bright Tower in Tokyo for JPY 13.9bn; the 13,063 sq.m. Nagoya Mitsui Main Building in Nagoya for JPY 13bn; and the 11,221 sq.m. Nagoya Mitsui New Building in Nagoya for JPY 13.2bn. 

The J-REIT also sold the 11,853 sq.m. NBF Shinkawa Building in Tokyo to Tosei Corporation for JPY 11.9bn.

The company will use cash and loans to fund the acquisitions, while the sale proceeds will be used to repay interest-bearing debts. (Read more)

Nippon Building Fund shares finished trading 0.17% higher to JPY 591,000. 

Singapore: Cromwell European REIT reports 6.6% rise in net income

Shares in Cromwell European REIT (CNNU) rose 5.68% to S$0.47 after reporting a 6.6% increase year-on-year in net property income to €57.7m during the first half of 2020. 

Gross revenue rose 13.7% YOY to €93.7m during the six months to end-June 2020, while distribution per unit declined 14.7% to 1.74 euro cents. 

The REIT recorded stable occupancy of 94.7%, with positive rental reversion of 6.4% in 1H 2020. 

“CEREIT’s portfolio has demonstrated its resilience amid the second-quarter lockdowns in Europe, benefitting from Cromwell’s active asset management and its diversified exposure to close to 800 predominantly office and light industrial / logistics tenant-customers from myriad trade sectors across seven countries,” said Simon Garing, CEO of the REIT’s manager. (Read more)