Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
Presented to you by Property Smart Investor- A Real Estate Online Education and Discussion

Monday, 15 June 2015

Mapletree trust makes $402m buy

Mapletree trust makes $402m buy

Mapletree trust makes $402m buy
MAPLETREE Greater China Commercial Trust is buying a business park project in China - its first acquisition since listing on the local bourse in 2013.
The real estate investment trust's manager said yesterday it is shelling out about $402 million for Sandhill Plaza in Shanghai.
Ms Cindy Chow, the manager's chief executive, said Sandhill Plaza is "a premium quality business park" development in Zhangjiang Hi-tech Park in Shanghai, which is part of the city's free trade zone and commonly known as Shanghai's Silicon Valley.
She noted that it has a high occupancy rate, strong tenancy profile and an attractive rental growth opportunity within a strong rental market.
signupalreadymember
"The acquisition of Sandhill Plaza is in line with the trust's strategy to invest in best-in-class real estate assets for commercial purposes in the Greater China region," she added.
Sandhill Plaza, a business park project in Shanghai, is being acquired by Mapletree Greater China Commercial Trust. The development has a gross floor area of about 83,800 sq m and includes a 20-storey tower and seven blocks of three-storey buildings. -- PHOTO: COLLIERS INTERNATIONAL, MGCCTM 
Sandhill Plaza has a gross floor area of about 83,800 sq m and includes a 20-storey tower and seven blocks of three-storey buildings.
Most of the 58 tenants are from the high-tech, information technology, and research and development sectors, and include entertainment giant Disney.
Sandhill Plaza had a committed occupancy rate of 96.2 per cent as at March 31.
The trust added that the property will be a "strategic addition" to its portfolio as it will grow the trust's footprint to Shanghai, a "first-tier commercial hub".
Once the acquisition is complete, the trust's total assets will increase 7.8 per cent to about $5.9 billion, while its lettable area will rise by 37 per cent to 2.6 million sq ft.
The trust plans to fund the purchase fully, which is expected to be completed by this week, with debt.
Credit ratings provider Moody's Investors Service said in a statement yesterday that the "proposed acquisition of Sandhill Plaza in Shanghai will enhance portfolio diversification and reduce revenue concentration from its asset in Hong Kong".
The trust's portfolio includes Festival Walk, a mall in Hong Kong, and an office building in Beijing.
Ms Jacintha Poh, an assistant vice-president and analyst at Moody's, said: "The Shanghai acquisition will add a third income-generating asset to the trust's portfolio, thereby reducing its reliance on its largest property, Festival Walk."
Moody's noted that once the acquisition is complete, Festival Walk will comprise 71 per cent of the portfolio's investment property value, down from 76 per cent now.
Moody's expects the gross rental income contribution from Festival Walk to fall below 70 per cent after the acquisition, from 76 per cent as at March 31.
Ms Poh added: "The trust will also benefit from greater geographical diversification within China."
The Straits Times/ Money                                                       Published on Tuesday, 16 June 2015

By Rachael Boon                                                                    rachaelb@sph.com.sg

Mapletree trust makes $402m buy



Please click the following for other Related Readings:






Sales of 2 condos at Sentosa Cove raise hopes of rebound

Corridors of discontent at Pasir Ris One

Freehold redevelopment site in Katong up for tender

33 Parklane basement units for sale

Warehouse market faces challenges in short term: Reit boss

Slower sales, fewer visitors hit Q2 shop rents

$483m top bid for private home site in Queenstown

More details of new HDB scheme revealed

Pasir Panjang Terminal's $3.5b expansion kicks off

Eye on Lavender: Transformation in progress

Centrale 8 in spotlight over defects

Private home prices 'could fall another 10% in next 2 years' 

Buy resale flat near parents? Financial help is key: Experts

Private home sales up but prices down

Dawson's SkyVille and SkyTerrace projects are raising the bar for stylish public housing 

In pictures: Stylish BTO projects at Dawson's SkyTerrace and SkyVille

24% apply for BTO flats under schemes to help families live closer together: Minister Khaw Boon Wan 

Singapore surprised by Malaysian transport agency stating preference to end high-speed rail in Johor


Sungei Pandan waterfront site may yield 600 homes

Toa Payoh private residential site draws 14 bids

Protecting property agents and consumers

Frasers Hospitality buys boutique hotel group in Britain














Lakeside project launched in Iskandar

Developers face hefty extension charges over unsold units (Amended)

Govt releases new developer rules on show units, sales data

Changes to Housing Developers (Control and Licensing) Act effective May 25

Government releases EC site in Choa Chu Kang for sale



More companies buying strata offices

Bids for Paya Lebar site likely to top $1b - Government Land Sale (GLS)

Please see Related Issues :

Mixed-use sites draws massive $1.67b bid - Government Land Sale (GSL)
UOL Group said it sold more than half of the 300 units offered at Botanique at Bartley (above) over the weekend, while Fraser Centrepoint sold 313 of 430 units at its 'soft launch' for North Park Residences . -- PHOTO: UOL GROUP
UOL Group said it sold more than half of the 300 units offered at Botanique at Bartley over the weekend, while Fraser Centrepoint sold 313 of 430 units at its 'soft launch' for North Park Residences (above). -- PHOTO: UOL GROUP

Please see and read all his related news. Related Links :

Please see and read all his related news. Related Links :

My Tribute to Mr Lee Kuan Yew - Remembering Lee Kuan Yew - The world should know his stories, his contribution and his final journey - The Legend - He will be in the heart of every Singaporean 











No comments:

Post a Comment