Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific for the week ending Friday, 12 June 2020.
The S&P/ASX 200 A-REIT index fell 3.73% this week, closing at 1,252.70 on Friday, while the S&P/ASX 200 index slipped 2.52% to 5,847.80.
On Tuesday, GPT Group (GPT) said that its retail portfolio valuation fell 8.8%, or A$476.7m, to A$4,297.8m in May compared to December 2019, according to a statement. GPT CEO Bob Johnston said there had been a significant increase in activity at their retail assets in recent weeks, with foot traffic at their regional malls back at 85% of where they were at the same time last year.
Unibail-Rodamco-Westfield (URW) told the market on the same day that it had received a high score in ESG practices from ISS (Institutional Shareholder Services group of companies).
The Tokyo Stock Exchange REIT index finished the week down 0.17% at 1,716.68, while the Nikkei 225 index sank 2.44% to 22,305.48.
Shares in Industrial & Infrastructure Fund Investment Corp. (3249) surged on Friday after announcing plans to acquire a 3% interest in IIF Shonan Health Innovation Park in Fujisawa-shi for JPY 1.16bn. The asset is one of Takeda Pharmaceutical’s largest research and development facilities in Japan. The sale-leaseback deal with Takeda Pharmaceutical features a 6.5% NOI yield, or a 6.2% yield after additional capex, the company said.
On Thursday, Nippon Accommodations Fund Inc. (3226) secured a JPY 2bn loan from the Norinchukin Bank to refinance an existing long-term loan. The new unsecured financing is due in September 2020 and has a 0.11909% interest rate, according to a filing.
At the start of the week, Japan Real Estate Investment Corp. (8952) announced new debt financing valued at JPY 11bn to refinance some long-term loans. The company secured a JPY 7bn, five-year loan from Sumitomo Mitsui Trust Bank at a 0.2075% interest rate, as well as a JPY 4bn, 10-year loan from MUFG Bank at a 0.36125% interest rate.
The FTSE ST Real Estate Investment Trusts index retreated 3.53% this week, finishing at
823.64, while the Straits Times Index lost 2.43% over the week.
After the markets closed on Friday, Lendlease Global REIT (JYEU) announced it had won a tender to redevelop the 48,200 sq.ft. Grange Road car park site in Singapore into a new multi-functional event space. The S$10m project will expand Lendlease’s 313@somerset complex, growing its net lettable area to approximately 330,000 sq.ft.
On Thursday, Starhill Global REIT (P40U) told shareholders in a statement that its upcoming distribution for the half-year period ending June would be below 90% of taxable income this year due to COVID-19.
Sabana Shariah Compliant Industrial REIT (M1GU) said in a statement that they had collected 96% and 90% of gross rental incomes in April and May 2020, respectively. Sabana stocks closed 1.33% lower at 0.37.
The Hang Seng REIT index edged about 0.64% lower over the week to 5,688.73, while the Hang Seng index finished down 1.89% to 24,301.38.
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|