J-REITs finish week up 1.5%, while other APAC REIT markets close lower

In Japan, the Tokyo Stock Exchange REIT index increased 1.69% to 1,710.36 today, while the Nikkei 225 index grew 1.13% to 22,512.08.

For the week, the Tokyo Stock Exchange REIT index finished trading 1.52% higher and the Nikkei 225 grew 0.15%. 

After the market closed, Kenedix Office Investment Corp. (8972) announced plans to buy an office building in Tokyo’s Shimbashi area from Zao Properties for JPY 16.3bn.

The 11-storey Shinbashi M-SQUARE Bright property has 5,392 sq.m. of leasable area, and is fully occupied with six tenants.

Kenedix Office also revealed plans to sell three buildings to Mitsui Fudosan for about JPY 9.75bn.

Japan Real Estate Investment Corp. (8952) secured a seven-year, JPY 2bn loan at a 0.24% fixed interest rate from the Norinchukin Bank to refinance an existing long-term loan, the company said. The company’s shares finished trading 2.90% higher at JPY 567,000.

The biggest J-REIT swings were Industrial & Infrastructure Fund Investment Corp. (3249), which rose 4.83% to JPY 175,900, and Hoshino Resorts REIT Inc. (3287), which dipped 1.33% to JPY 481,000.

Singapore

The FTSE ST Real Estate Investment Trusts index edged 0.84% higher to 826.24 on Friday, while the Straits Times Index was up 0.55% to 2,604.51.

Dasin Retail Trust (CEDU) launched a private placement of new shares to raise up to S$94m, the company said.

The trust plans to issue up to 120.5m new units at an issue price between S$0.78 and S$0.80 per new stock, with AMTD Global Markets, Bank of China, CLSA, DBS Bank, Haitong International Securities, Phillip Securities, and Soochow CSSD Capital Markets as joint bookrunners. Dasin Retail shares traded flat. 

After the bell, CapitaLand Mall Trust (C38U) announced in a statement that it had secured S$1.02bn in numerous loan facilities from various banks. 

The loan facilities have loan tenures ranging from four to seven years, and interest rates set at the SGD swap offer rate plus margin, with the margin depending on the loan maturity. 

The biggest S-REIT moves of the day were Keppel Pacific Oak US REIT (CMOU) stocks, which rose 5.15% to S$0.72, and ESR-REIT (J91U), which retreated 2.53% to S$0.39.

For the week, the FTSE ST Real Estate Investment Trusts index traded sideways, edging 0.38% lower, while the Straits Times Index was 1.15% lower. 

Australia

A-REITs rose with the market on Friday, with the S&P/ASX 200 A-REIT index growing 1.48% to 1,250.70, and the S&P/ASX 200 index gaining 1.49% to 5,904.10.

Among the biggest A-REIT movers today was Centuria Industrial REIT (CIP), which rose 3.77% to A$3.30, and Home Consortium (HMC), which slipped 2.52% to A$3.10.

For the week, the S&P/ASX 200 A-REIT index finished 1.97% lower and the broader S&P/ASX 200 index declined 0.65%.

Hong Kong 

The Hang Seng REIT index inched 0.21% higher to 5,605.15, as the Hang Seng index slipped 0.93% to 24,549.99.

Hong Kong office trust Spring REIT (1426) posted the biggest gains, up 2.00% to HK$2.55, while shares in hotel trust Regal REIT (1881) slipped 0.81% to HK$1.22.

For the week, the Hang Seng REIT index closed 2.79% lower, while the Hang Seng index dipped 0.38%.

Learn more about Asia Pacific REITs:

REITS in AustraliaREITs in Thailand
REITs in JapanREITs in Taiwan
REITs in SingaporeREITs in Korea
REITs in Hong KongREITs in New Zealand
REITs in MalaysiaREITs in India
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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.