Dexus spends A$173.5m on Australian industrial assets and other APAC REIT news

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In Australia, Dexus (DXS) announced that the Dexus Australian Logistics Trust, which Dexus holds a 51% interest, exchanged contracts on two industrial properties for A$173.5m.

The acquisitions include a 19,246 sq.m. cold store and ambient facility let to Real Dairy Australia and Tomkin in Greenacre, NSW. It has a weighted average lease expiry by income of about 13.5 years, and will generate a 5% passing yield. 

The other purchase is a 51,595 sq.m. prime-grade logistics facility under development for Ford Australia in Mickleham, VIC. The asset, which is scheduled for completion in August next year, will have a WALE of 10 years on completion, and will generate a passing yield of 5.25%. (Read more) 

Dexus shares closed 1.81% lower at A$9.22. 

Among the biggest A-REIT stock moves were Charter Hall Retail REIT (CQR) shares, which fell 4.99% to A$3.24, and Unibail-Rodamco-Westfield (URW), which rose 1.43% to A$4.25.

S&P/ASX 200 A-REIT index: ↓ 1.70% (1,235.90) | S&P/ASX 200 index: ↓ 0.03% (6,012.90)


FTSE ST Real Estate Investment Trusts index: ↓ 0.21% (847.29) | Straits Times Index: ↓ 1.05% (2,661.42)

Karen Lee Kiah Ling will become the new CEO of ARA LOGOS Logistics Trust’s manager, when outgoing CEO Daniel Cerf steps down from the role in August.

Cerf had worked with the REIT for the past decade, helping grow the REIT’s logistics portfolio since its IPO. The incoming CEO joins the management team from her most recent role as head of asset and investment at LOGOS SE Asia. (Read more)

ARA LOGOS Logistics Trust shares closed 0.87% lower at S$0.57.

The most significant S-REIT moves were Frasers Centrepoint Trust (J69U) shares, which fell 2.44% to S$2.40, and Keppel DC REIT (AJBU) stocks, which increased 1.97% to S$2.59. 


Tokyo Stock Exchange REIT index: ↑ 0.39% (1,693.80) | Nikkei 225 Index: ↓ 0.44% (22,614.69)

GLP J-REIT (3281) shares jumped 4.56% to JPY 162,900, followed by Mitsui Fudosan Logistics Park Inc. (3471), which rose 4.21% to JPY 520,000.

Japan Excellent Inc. (8987) finished trading lower, down 4.35% to JPY 118,600, while shares in Hulic REIT Inc. (3295) dipped 2.31% to JPY 131,200. 

Hong Kong 

Hang Seng REIT index: ↓ 1.30% (5,792.26) | Hang Seng index: ↓ 1.38% (25,975.66)

In Hong Kong, most listed REITs finished the day lower, led by Regal REIT (1881) stocks, which sank 2.34% to HK$1.25.

RMB-denominated Hui Xian REIT (87001) managed close higher, rising 0.46% to RMB 2.170.