APAC REIT Daily: Nippon Building Fund shares rise, as J-REITs edge higher

By Benn Dorrington

Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Wednesday, 27 May 2020.


J-REITs finished trading slightly higher, with the Tokyo Stock Exchange REIT Index edging 0.75% higher to 1,677.21, in line with the Nikkei 225 Index, up 0.70% at 21,419.23.

Nippon Building Fund Inc. (8951) received a JPY 1bn unsecured loan from Taiyo Life Insurance to refinance a long-term borrowing, the company said in a statement. The loan had a 0.65% interest rate and was due in 2035. The company’s shares jumped 2.72% to JPY 642,000.

Shares in Nippon Accommodations Fund Inc. (3226) closed 2.22% higher at JPY 644,000 after the company announced a new JPY 1bn unsecured loan from Sumitomo Mitsui Trust Bank to repay an existing short-term debt. The unguaranteed loan offered a 0.09409% coupon rate and was set to mature end-August 2020. 

Ichigo Hotel REIT Investment Corp. (3463) stocks jumped the highest, up 7.18% to JPY 65,700, while Activia Properties Inc. (3279) shares dipped 1.56% to JPY 378,000.


A-REITs extended their gains, with the S&P/ASX 200 A-REIT Index rising 1.23% to 1,276.20, while the S&P/ASX 200 Index dipped 0.09% to 5,775.

ALE Property Group (LEP) announced it had redeemed A$225m of Australian medium term notes that were due to mature in August with a new debt facility arranged last month, according to a statement. ALE stocks rose 0.89% to A$4.52. 

Shares in Ingenia Communities Group (INA) climbed 0.98% to A$4.12 after the company exchanged contracts on two acquisitions in NSW and Victoria totalling about A$33m. In a statement, the company said it still had A$352m of cash and available debt ready for further deals this year.

The biggest swings were Unibail-Rodamco-Westfield (URW) stocks, which ascended 9.02% to A$4.35, and Elanor Commercial Property Fund (ECF), which fell 4.15% to A$0.93. 


S-REITs traded sideways, with the FTSE ST Real Estate Investment Trusts Index edging up 0.05% to 782.39.

Prime US REIT (OXMU) announced that its manager received 80% of its base fee for the three months to end-March 2020 in shares, according to a statement. The manager received 2,386,703 stocks valued at  US$0.602 per unit. The REIT’s shares jumped 2.17% to S$0.71.

Shares in Suntec REIT (T82U) closed 1.40% lower at S$1.41 after announcing it would issue S$200m of 2.6% notes due in 2025 on to the bonds market.

The FTSE Straits Times Index finished trading 0.43% lower at 2,519.48. 

Hong Kong 

Hong Kong REITs and the wider market closed lower over rising fears of protests in the city.

The Hang Seng REIT Index sank 2.61% to 5,240.39, and the Hang Seng Index slipped 0.36% to 23,301.36.

Spring REIT (1426) shares dived 5.22% to HK$2.36, while Link REIT (823) dipped 2.73% to HK$58.80. 

Other markets 

In Malaysia, the greatest changes were Pavilion REIT (5212) shares, which increased 1.79% to MYR 1.71, and Al-Salam REIT (5269) stocks that dipped 2.67% to MYR 0.73.

In New Zealand, Property for Industry Ltd (PFI) shares were up 2.45% to NZ$2.51, while Stride Property Group (SPG) rose 1.87% to NZ$1.63.

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
Disclaimer: APAC Real Estate accepts no responsibility for any claim, loss or damage as a result of information provided or its accuracy. Your personal objectives, financial situation or needs have not been taken into consideration. The information provided on this site is general in nature, not financial product advice, so you should see a financial expert before making any investment decision. Conflicts of interest may be present within commercial arrangements with companies and/or stock held.
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.