M&G Investments, part of the London-headquartered M&GPrudential, has established a ground presence in Australia after opening offices in Sydney and Melbourne. The firm has appointed Chris Andrews as head of business development, Australia, to lead the Melbourne office and James MacKinnon as head of Australia, real estate, to lead the Sydney office. “We are seeing […]
Singaporean sovereign wealth fund GIC has purchased the LG Twin Towers in Beijing from South Korean conglomerate LG Group for more than RMB 8bn (US$1.15bn). LG Twin Towers (image: GIC) The complex features two grade-A office towers and a retail podium in the Guomao CBD, spanning 140,680 sq.m. of gross floor area, the buyer said […]
In Tokyo, Activia Properties Inc. (3279) reported a 6.2% fall in ordinary profit to JPY 7.3bn for the six months to end-May 2020, according to its latest earnings. The REIT, which owns commercial and office properties in urban areas, said cash distributions were set at JPY 8,206 per unit for the period, down from JPY […]
Here’s how the REIT markets performed across Asia Pacific on Thursday, 7 May 2020. Australia Goodman Group (GMG) shares rose 3.75% to $14.11 today after the company reaffirmed its full-year earnings and distribution guidance, citing growing demand for warehouse space. Arena REIT (ARF) and Stockland (SGP) shares also traded higher, increasing 2.84% and 2.62%, respectively. […]
SGX-listed Frasers Logistics & Commercial Trust (BUOU) has sold its remaining half-stake in a cold storage facility in Brisbane to German real estate investment manager DWS for A$152.5m, representing a 12.2% premium over the property’s book value. The S-REIT also bought a prime logistics asset in Melbourne and a business park in the UK’s Thames […]
Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Monday, 19 May 2020. Australia A-REIT shares rallied along with other Aussie stocks, with the S&P/ASX 200 A-REIT Index leaping 3.69% to 1,179.40. Stocks in Australia and other markets jumped on easing restrictions and early COVID-19 vaccine trial results released in […]
Embassy Office Parks REIT has raised ₹7.5bn or ₹750 crores (~US$102m) through a private placement of non-convertible debentures due to mature in September 2023. Embassy, India’s first listed REIT, issued ₹7.5bn of Embassy REIT Series II Tranche A Non-Convertible Debentures 2020 at a 7.25% quarterly coupon. The non-convertible debentures are rupee-denominated, rated, secured, redeemable, transferable, […]
Singapore-listed United Hampshire US REIT (ODBU) reported US$11.3m in net property income for the June 2020 quarter, down 5.5% from its forecast, according to its earnings. The US-focused trust, which listed on the Singapore stock exchange in March this year, recorded a net loss after tax of US$649,000 for the period, but has maintained distribution […]
Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific on Thursday, 11 June 2020. Hong Kong Link REIT (823) secured a five-year sustainability-linked loan of HK$1bn from OCBC Bank, marking its first sustainability-linked loan in Hong Kong dollars, the company announced. The REIT will use the loan for general working capital, and […]
Here’s how the REIT markets performed across Asia Pacific on Monday, 11 May 2020. Australia A-REIT shares bounced back, with the S&P/ASX 200 A-REIT Index (XPJ) closing 2.73% higher. Investors were buoyed by the further easing of COVID-19 restrictions throughout Australia, with the S&P/ASX 200 rising 1.3% to 5,461.22. Investec Australia Property Fund (IAP) shares […]
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