Tripp Gantt is stepping down as CEO of Singapore-listed Manulife US REIT, with a veteran of asset manager DWS set to succeed him in a dual role of chief executive and chief investment officer at the loss-making office trust.
Gantt… Read More>>
Digital Core REIT Upping Stake in Frankfurt Data Centre to 49.9% With $129M Buy
Digital Core REIT will exercise its option to acquire a further 24.9 percent interest in a Frankfurt data centre from its sponsor, US server-hosting giant Digital Realty, for €117 million ($128.7 million), bringing the Singapore-listed trust’s stake in the German… Read More>>
Singapore’s Keppel REIT in Talks to Buy Half-Stake in Sydney Tower From Mirvac
Keppel REIT continues to ramp up its presence Down Under with the Singapore-listed trust now in talks to buy into an office tower near Sydney’s Circular Quay owned by a Mirvac fund, according to market sources.
Keppel REIT is in… Read More>>
CICT Distributable Income Rises 1.9% as Conservative Approach Yields Results
CapitaLand Integrated Commercial Trust posted second-half distributable income of S$362.5 million, up 2.1 percent year-on-year, bringing the REIT’s full-year payout to S$715.7 million ($532 million), up 1.9 percent.
Singapore-listed CICT’s distribution per unit for 2023 was 10.75 Singapore cents, up… Read More>>
Keppel REIT Posts 2% DPU Drop as Borrowing Costs Rise, Interest Income Slumps
Singapore-listed Keppel REIT posted a 2 percent drop in distribution per unit for 2023 as borrowing costs jumped 16 percent and interest income plunged 70.9 percent.
Full-year net property income rose 3.7 percent to S$182.4 million ($136.2 million), boosted by… Read More>>
Frasers Centrepoint Trust Reports 99.9% Retail Occupancy as Foot Traffic, Sales Rise
Frasers Centrepoint Trust’s latest update paints a picture of robust health in Singapore’s retail sector, with the REIT reporting committed occupancy of 99.9 percent across its nine-asset mall portfolio amid rising foot traffic and store sales.
Committed occupancy during the… Read More>>
Manulife US REIT Inks Restructuring Deal After Winning Investor, Lender Approval
Manulife US REIT (MUST) signed a master restructuring agreement with its sponsor and creditors on Monday to avoid defaulting on $1.18 billion in debt.
MUST said in a regulatory filing that all 12 of its lenders approved the restructuring which… Read More>>
CapitaLand China Trust Selling Beijing Mall to Inner Mongolian Investor for $120M
CapitaLand China Trust (CLCT) is selling an underperforming Beijing shopping mall to an investor from Inner Mongolia for RMB 849.2 million ($120 million) in the latest example of domestic capital buying up discounted assets as China’s real estate market slows.
Manulife US REIT Asks for Debt Extension, Sponsor Offers $236M Lifeline
Manulife US REIT (MUST) has unveiled a recapitalisation proposal involving a $235.7 million lifeline from its sponsor and a hoped-for one-year debt extension from creditors, in an effort to rescue the Singapore exchange’s most over-leveraged property trust.
The bailout includes… Read More>>
OUE Commercial REIT Sees 30% Surge in Net Property Income in Q3
OUE Commercial REIT recorded net property income of S$62.7 million ($45 million) in the third quarter, up 29.8 percent from the same period a year earlier, thanks to improved performance by its hospitality assets driven by a recovery in Singapore… Read More>>
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