Mapletree Industrial strikes US$211m US data centre deal and more APAC REIT news

Singapore

Mapletree Industrial Trust (ME8U) announced plans to buy the 60% remaining interest in 14 data centres in the US for US$210.9m, according to a filing.

The deal increases the REIT’s data centre exposure to 39% of assets under management and deepens its presence in the US. 

The REIT also launched a private placement to raise no less than S$350m, offering shares at an issue price between S$2.73 and S$2.80 per unit. Mapletree Industrial shares finished trading flat. 

The FTSE ST Real Estate Investment Trusts index increased 0.57% to 833.46, while the Straits Times index rose 0.20% to 2,634.92.

Japan

J-REITs made small gains today. The Tokyo Stock Exchange REIT index grew 0.36% to 1,691.88, while the Nikkei 225 Index finished trading 0.50% higher at  22,549.05.

GLP J-REIT (3281) announced plans to acquire four logistics properties for a total of JPY 38.37bn. It also told the market that it was preparing to offer 149,560 new shares at a price yet to be determined to raise capital and strengthen its financial position, according to a statement

GLP J-REIT shares climbed 1.61% to JPY 145,000.

The company also Japan Hotel REIT Investment Corp. (8985) secured JPY 1.09bn in new loans from The Hiroshima Bank and Sumitomo Mitsui Banking Corporation to refinance an existing loan, the company announced. Japan Hotel REIT shares rose 0.41% to JPY 48,800.

Australia

A-REITs closed higher today, with the S&P/ASX 200 A-REIT index rising 1.33% to 1,273.60 and the S&P/ASX 200 index increasing 0.17% to 5,954.40.  

Shares in Cromwell Property Group (CMW) surged 8.05% to A$0.94 after advising shareholders to take no action on ARA Asset Management’s takeover bid to acquire 29% of shares that it didn’t already own. 

ARA is offering A$0.90 per share, a 3.4% premium to its last close on June 22, and already owns a 24% stake in the company through its subsidiaries. 

Growthpoint Properties Australia (GOZ) set its distribution at 10 cents per share for the half year to end-June 2020, according to a statement. 

The company said total billings was A$25.8m for June 2020, representing 87% of rent collections. Growthpoint shares increased 2.42% to A$3.39. 

SCA Property Group (SCP) told investors in an announcement that its distribution would be 5 cents per share for the six months to end-June 2020, taking its full-year distribution to 12.5 cents per unit.

In the update, SCA said there was a cash rent shortfall of A$22m for the four months to June 2020, including A$5.4m in waivers and deferrals. 

The value of the company’s portfolio also decreased 2.9% to A$3.14bn in June, compared to December 2019. Shares finished trading flat.

Unibail-Rodamco-Westfield (URW) priced a €750m senior bond offering with a 12-year maturity and a 2% fixed coupon. There was strong demand for the offer, with the order book exceeding €1.6bn.

URW shares edged 0.22% higher to A$4.46. 

ALE Property Group (LEP) announced that it would set its distribution for half-year to end-June 2020 at 10.45 cents per share, taking its full-year distribution to 20.90 cents per unit, according to a filing

ALE Property stocks closed 0.61% lower at A$4.91.

Aventus Group (AVN) also revealed its half-year distribution, setting it at 2.35 cents per share, according to an announcement

The company said all of its 20 shopping centres were open and trading at pre-COVID-19 opening hours, while 98% of leased stores by GLA were open and trading. Aventus stocks rose 0.90% to A$2.25.

Learn more about Asia Pacific REITs:

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Benn is a freelance journalist and the publisher of APAC Real Estate. He has reported for the Herald Sun, REFI Europe, S&P Global Market Intelligence, Leader Newspapers, and more.