Shares in ASX-listed Scentre Group jumped more than 4% after telling the market that it had collected A$183m of gross rent in August, representing 86% of monthly gross rental billings for the retail REIT.

The A-REIT’s gross rent cash collection fell to its lowest point in April, down to 28% at A$59m, and has climbed back up to almost pre-pandemic levels. 

The company said in its full-year earnings in August that Australia’s shopping centre industry had provided more than A$1.6bn in support to retailers during the pandemic. 

At the time, Scentre said they had struck support arrangements with 2,438 of their 3,600 retail partners, including 1,624 SME retail partners.

Scentre Group shares finished trading up 4.13% to A$2.27 on Tuesday. 

IndexChangeValue at close
S&P/ASX 200 A-REIT+1.58%1,302.80
S&P/ASX 200
+1.06% 6,007.80
FTSE ST REITS -0.08%847.29
STI-0.26% 2,504.76
Tokyo Stock Exchange REIT
Nikkei 225
+0.80% 23,274.13
Hang Seng REIT +0.16%5,615.22
Hang Seng+0.14% 24,624.34

Singapore: CapitaLand Mall Trust secures first sustainability-linked loan

Singapore-listed CapitaLand Mall Trust and United Overseas Bank have converted a S$200m revolving credit facility into the REIT’s first sustainability-linked loan.

Under the loan terms, the bank will offer CMT tiered interest rates based on CMT’s achievements in its annual GRESB real estate assessment, which measures its environmental, social and governance performance. 

The REIT was recognised as the leader in the Asia ‘Retail – Listed’ category in GRESB 2019.

“The sustainability-linked loan from UOB marks another milestone in CMT’s journey to continually strengthen our ESG standards while creating long-term value for our stakeholders,” said Tony Tan, CEO of the REIT’s manager.

“It follows CMT’s first S$200m green loan secured on 1 October 2019 to finance the Building and Construction Authority Green Mark-certified properties in our portfolio.”

CMT stocks closed 0.51% lower at S$1.97 on Tuesday.

Hong Kong: Sunlight REIT records HK$751m loss for FY20

Hong Kong-listed Sunlight REIT recorded a loss of HK$751.4m for the year ending June 2020, down from a profit of HK$1.59bn the previous year. 

Despite the loss, revenue for the office and retail REIT was up 0.5% to HK$854.6m and net property income rose 0.3% to HK$684.7m for the year. 

Distribution per unit declined 1.8% to 26.8 cents for the year, reflecting 95.2% payout ratio. 

The value of the REIT’s portfolio, which includes the HK$5.2bn Sunlight Tower and the HK$4.19bn Sheung Shui Centre Shopping Arcade in Hong Kong, declined 5.4% to HK18.9bn.

Shares in Sunlight REIT closed 0.27% lower at HK$3.70 on Tuesday.

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.