J-REITs reversed recent gains, as the Tokyo Stock Exchange REIT index slumped 1.45% to 1,681.98. The Nikkei 225 Index finished trading 1.22% lower at 22,259.79.
The company has also forecasted an 80% YOY decline in RevPAR for June. The company’s shares tumbled 6.67% to JPY 28,840.
The new loans included an eight-year, JPY 500m loan on a 0.55% interest rate from the Norinchukin Bank, and a seven-year, JPY 500m loan on a 0.4925% interest rate from Mitsui Sumitomo Insurance. Tokyu REIT shares finished trading 0.73% lower at JPY 149,000.
The biggest J-REIT moves were Nippon Prologis REIT Inc. (3283), which rose 1.62% to JPY 313,500, and Invincible Investment Corp. (8963), which sank 6.67%.
A-REITs retreated, with the S&P/ASX 200 A-REIT index falling 3.76% to 1,232.50, and the S&P/ASX 200 index dropping 2.48% to 5,817.70.
The shares were sold at $3.30 per unit, with APN entities acquiring 3.7% of additional shares, taking its aggregate holdings to 17.3%. AQR shares slid 3.36% to A$3.45.
The FTSE ST Real Estate Investment Trusts index sank 1.69% to 819.28, as the Straits Times Index closed 1.46% lower at 2,590.15.
The redevelopment will cost S$82.1m and is scheduled for completion in 4Q 2021, however the project could be expanded if Singaporean authorities increase the plot ratio to 1.32. Soilbuild REIT shares closed 1.25% lower at S$0.40.
The Hong Kong stock market was closed for the Dragon Boat Festival.
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|