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Lendlease Reit
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Lendlease Global REIT
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luckyguy3
Master |
25-Feb-2026 18:55
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tomorrow share price drops to 56 cents. Look at Capitaland India Trust. Same thing. CLIT issue at $1.208, share price dropped from $1.28 to $1.21 today. Tomorrow same thing will happen to Lend Lease Reit. 
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JurongW
Elite |
25-Feb-2026 18:41
Yells: "Earnings give weight, Chart give wings" |
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LAUNCH OF UNDERWRITTEN NON-RENOUNCEABLE PREFERENTIAL OFFERING TO RAISE GROSS PROCEEDS OF APPROXIMATELY S$196.6 MILLION Issue Price - S$0.558 for each New Unit Allotment Ratio - 119 New Units for every 1,000 existing Units (fractions of a New Unit to be disregarded) |
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Goodwill77
Supreme |
25-Feb-2026 17:14
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A very good wise move 100% ownership of PLQ Mall |
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aFewGoodman
Member |
25-Feb-2026 13:41
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https://sbr.com.sg/commercial-property/news/lendlease-reit-moves-full-ownership-plq-mall-in-1164m-deal
Lendlease REIT moves to full ownership of PLQ Mall in $116.4m deal |
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coco66
Member |
20-Feb-2026 10:28
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Lendlease Global Commercial REIT (LREIT) reported 1HFY26 DPU of 1.85 S cents (+3.1% yoy), in line with expectations, supported by strong retail performance and near-full occupancies at Jem (99.9%), 313@Somerset (98.8%) and newly acquired PLQ Mall (99.4%). Rental reversions were robust at 10.9%, with PLQ Mall achieving teens' growth, while tenant sales showed early signs of recovery. Balance sheet metrics improved following the Jem Office divestment, lowering aggregate leverage to 38.4% and lifting ICR to 1.8x, alongside a reduced cost of debt at 2.9%. Management also secured lower electricity tariffs from FY27 and continues to optimise PLQ Mall&rsquo s tenant mix via AEI. With potential valuation upside for suburban malls like Jem and an attractive FY26 yield of 5.9%, UOB KayHian maintains BUY with a target price of S$0.78, backed by stable income and balance sheet strength. | ||||
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Joelton
Supreme |
14-Feb-2026 12:23
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Lendlease Global Commercial Reit posts 3.1% increase in H1 DPU to S$0.0185 Distributable income rises 11.7% to S$48.6 million [SINGAPORE] The manager of Lendlease Global Commercial Real Estate Investment Trust : JYEU -1.57% (Reit) on Friday (Feb 13) posted a distribution per unit (DPU) of S$0.0185 for the first half ended Dec 31, 2025. This was up 3.1 per cent from S$0.018 in the previous corresponding period. The higher DPU in H1 of the 2026 financial year followed a resilient performance from the Reit&rsquo s Singapore malls, the manager said. It also cited a favourable interest-rate environment, and the refinancing of perpetual securities in April 2025 at lower costs of funding. An S$8.9 million divestment gain from the sale of Jem&rsquo s office component remains available for future distribution, the manager noted. It added that the deployment will be in line with the long-term strategy to deliver stable and sustainable growth in DPU. The H1 DPU includes an advance distribution of S$0.013305 for period spanning Jul 1 to Nov 13, 2025. This was already paid out on Dec 18. The remaining distribution of S$0.005195 will be paid out on Mar 30, 2026, after the record date of Feb 25. Distributable income for H1 rose 11.7 per cent to S$48.6 million, from S$43.5 million in the year-ago period. The manager attributed the increase to lower interest expenses and perpetual securities coupons. But it was partially offset by the divestment of the Jem office and the vacancy that followed Cathay Cineplexes&rsquo lease termination at the property&rsquo s shopping mall. As at Dec 31, the total number of Lendlease Reit&rsquo s units stood at nearly three million, up from 2.4 million units as at Jun 30. This was due mainly to a private placement to fund the purchase of a 70 per cent stake in PLQ Mall for S$619.5 million. Last November, Lendlease Reit divested the office component of Jem to a Keppel-managed fund for S$462 million. The sale was aimed at reducing the Reit&rsquo s leverage to about 35 per cent on a pro forma basis, and provide a net cash gain of about S$8.9 million for unitholders. Following this divestment, revenue fell 1.6 per cent to S$101.9 million in H1 FY2026, from S$103.6 million the year before. Net property income (NPI) was down 1.2 per cent on the year at S$74 million, from S$74.9 million previously. On a like-for-like basis, excluding the Jem office divestment, revenue and NPI would have been higher by 0.6 per cent and 1.1 per cent, respectively. The manager said the declines in H1 revenue and NPI were also due to the exit of Cathay Cineplexes. Its replacement tenant &ndash Shaw Theatres &ndash commenced operations in November. No refinancing risks for FY2026 As at end-December, Lendlease Reit&rsquo s gross borrowings stood at S$1.2 billion, and its gearing ratio declined to 38.4 per cent from 42.7 per cent as at Sep 30. About 72 per cent of its borrowings were hedged to fixed rates as at Dec 31, and the weighted average cost of debt decreased to 2.9 per cent a year, from 3.09 per cent annually as at end-September. The weighted average debt maturity was 2.5 years, while the interest coverage ratio improved to 1.8 times, compared with 1.6 times as at Sep 30. The manager noted that there are no refinancing risks in FY2026. &ldquo The debt portfolio remained fully unsecured, with S$701.2 million debt facilities available to support working capital needs,&rdquo it added. As at end-December, Lendlease Reit&rsquo s portfolio committed occupancy was about 95 per cent. Meanwhile, its retail portfolio had an occupancy rate of 99.5 per cent and a positive rental reversion of 10.4 per cent. In H1, tenant sales and visitation level grew 7.2 per cent and 9.6 per cent on the year, respectively, inclusive of a one-month contribution from PLQ Mall. Without the mall, the respective year-on-year increases would have been 1.1 per cent and 6.2 per cent. Tenant retention was 64.5 per cent as at end-December, largely because of Cathay Cineplexes&rsquo exit. Excluding the cinema tenant, the retention rate would have improved to 76.8 per cent, the manager said. The Reit has also started reconfiguring retail spaces at PLQ Mall, with the enhancements expected to drive up rental rates after completion. Units of Lendlease Reit ended Friday 1.6 per cent or S$0.01 lower at S$0.625, before the release of the results. |
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Joelton
Supreme |
14-Feb-2026 12:14
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LREIT&rsquo s 1HFY2026 DPU up 3.1% y-o-y to 1.85 cents Lendlease Global Commercial REIT (LREIT) reported a 3.1% year-on-year increase in distribution per unit (DPU) to 1.85 cents for 1HFY2026. This increase was driven by lower interest expenses and perpetual securities coupons, despite the divestment of Jem&rsquo s office component and the exit of Cathay Cineplexes. LREIT&rsquo s portfolio occupancy stood at 94.9%, with a weighted average lease expiry (WALE) of 4.8 years. |
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coco66
Member |
26-Jan-2026 09:51
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Just went to somerset recently: New building (currently under construction) beside 313 and H& M looks very strategically positioned (a lot of human traffic). good call to remove the car park |
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Joelton
Supreme |
12-Dec-2025 11:29
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Lendlease Global Commercial REIT enters facility agreement for $50 mil and accepts facility letter for up to $100 mil
Lendlease Global Commercial Trust Management (LREIT) has entered into a facility agreement worth $50 million and accepted an offer for an uncommitted revolving credit facility worth up to $100 million.
These two facilities may be applied towards general corporate purposes and/or bridge financing of LREIT and its subsidiaries.
The facility agreement and facility letter contains conditions in which if unmet, may affect the aggregate amount of facilities under LREIT which is up to $1,709.8 million.
This includes if the sponsor ceases to be at any time a 51% owner of LREIT, among others.
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Joelton
Supreme |
07-Nov-2025 08:11
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Lendlease Reit raises S$280 million in private placement
The units are priced at S$0.602 apiece
[SINGAPORE] The manager of Lendlease Global Commercial Real Estate Investment Trust (Reit) on Thursday (Nov 6) announced the completion of a private placement of around S$280 million, up from the initial S$270 million.
It was about three times covered with strong participation from a quality mix of new and existing unitholders, long-only funds, real estate specialists, private wealth and multi-strategy investors.
Due to the strong interest, the placement size rose by around S$10 million, based on a company statement. The units from the private placement were issued at S$0.602 apiece, representing a 3.7 per cent discount from the adjusted volume-weighted average price of S$0.6253 per unit.
The manager said the gross proceeds from the private placement will be substantially used to finance the acquisition of the 70 per cent interest in Paya Lebar Quarter (PLQ) mall. The agreed property value of PLQ Mall is S$885 million, at a 2.1 per cent or S$19 million discount to the appraised value by Knight Frank.
On Wednesday, the manager of the Reit said the deal is mainly made up of a total equity consideration of S$234.3 million. The acquisition fee payable to the manager is around S$6.2 million, and other acquisition-related fees and expenses are valued at around S$6.3 million.
The new units of the private placement are expected to be issued on or around Nov 14, 2025.
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Mark001
Veteran |
06-Nov-2025 15:47
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Bring in new blood to acquire the new valuable shopping mall and existing holders still receive dividends before dilution. It' s not bad for me.
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ahtaolim
Member |
06-Nov-2025 15:16
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you need to look at this angle: the latest high is 0.660. the private placment is 0.620 is hugh crazy investment, not sell off. unless you buy 0.90 , yes to some it as good as dilution
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Arloji
Member |
06-Nov-2025 11:11
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It is bad for individual retail investors because of dilution.
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Mark001
Veteran |
06-Nov-2025 09:50
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Is the news positive for existing unit holder? I think so. But The reit price is dropping.
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Joelton
Supreme |
06-Nov-2025 09:15
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Lendlease Reit acquires 70% of PLQ Mall
Deal will be financed by proposed private placement of units priced at S$0.597 to S$0.616 each
[SINGAPORE] The manager of Lendlease Global Commercial Real Estate Investment Trust (Lendlease Reit) said on Wednesday (Nov 5) that it signed an agreement to acquire 70 per cent of the units in PLQM Trust, which owns 100 per cent of PLQ Mall.
The vendor is understood to be sovereign wealth fund Abu Dhabi Investment Authority. The remaining 30 per cent of the trust is owned by the Reit&rsquo s sponsor, Australian-listed Lendlease Corp.
About S$270 million or more will be raised from a private placement of units priced at S$0.597 to S$0.616 each to fund the acquisition. The manager of the Reit said this move will help to fully finance the proposed transaction.
The issue price range represents a discount of between about 3.5 and 6.5 per cent to the volume weighted average price of S$0.6386 per unit in Lendlease Reit.
The deal is largely made up of a total equity consideration of S$234.3 million. The acquisition fee payable to the manager is around S$6.2 million, and other acquisition-related fees and expenses are valued at around S$6.3 million.
The agreed property value of PLQ Mall is S$885 million, at a 2.1 per cent or S$19 million discount to the appraised value by Knight Frank. The net property income yield is 4.5 per cent, based on the agreed property value.
Post-acquisition and completion of the Jem office divestment by Nov 12, Lendlease Reit&rsquo s total asset value will increase to S$3.9 billion, with Singapore representing 89 per cent of its portfolio. Gearing will stand at 38.3 per cent on a pro forma basis, while distribution per unit is expected to increase 2.5 per cent.
The manager said that the enlarged portfolio will be well-positioned to deliver consistent growth, with the proportion of essential services expected to rise from around 57.7 per cent to 59.9 per cent of the retail gross rental income.
In addition, the suburban retail component will expand to 62.7 per cent, supported by consumer demand for essential services and the stable, recurring income generated by well-allocated suburban malls.
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ahtaolim
Member |
06-Nov-2025 09:10
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this private placement at S$0.6020 per unit is a clear positive for Lendlease Global Commercial REIT (LREIT). Here&rsquo s why it benefits the REIT strategically and financially: 🔹 1. Strong Demand and Investor Confidence
🔹 2. Healthy Pricing
🔹 3. Proceeds Support Growth (PLQ Mall Acquisition)
🔹 4. Minimal Dilution, Positive DPU Outlook
✅ Bottom line: The private placement at S$0.6020 is constructive &mdash it strengthens LREIT&rsquo s balance sheet, funds an accretive acquisition, demonstrates institutional confidence, and supports higher future distributions. In REIT capital-raising terms, S$0.602 is a strong (high) placement price, not cheap. Here&rsquo s why that&rsquo s a good sign 👇 🔹 1. Small Discount = Strong Confidence
🔹 2. Above Previous Trading Range
🔹 3. Placement Was 3× Oversubscribed
🔹 4. Benchmark vs Fair Value
✅ So yes &mdash 0.602 is &ldquo high&rdquo in the positive sense: It shows investors were confident enough that the REIT didn&rsquo t need to offer a deep discount. The price level signals strength, demand, and a bullish valuation floor rather than dilution risk. |
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Mark001
Veteran |
05-Nov-2025 12:37
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5 Nov 2025 news:
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Joelton
Supreme |
31-Oct-2025 08:59
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Lendlease Global Reit improves its committed portfolio occupancy to 95% for Q1 FY 2026
The Reit manager credits the rise from 92.1% in the preceding quarter to &lsquo active leasing efforts&rsquo for a property in Milan
[SINGAPORE] Lendlease Global Commercial Reit : JYEU -1.52% on Thursday (Oct 30) posted a committed portfolio occupancy of 95 per cent for its first quarter ended Sep 30, up from 92.1 per cent in the previous quarter.
This was &ldquo driven by active leasing efforts&rdquo for Building 3 of the Sky Complex property in Milan, Italy, the real estate investment trust (Reit) manager said in a business update for Q1 FY2026.
As at Sep 30, Lendlease&rsquo s retail portfolio occupancy stood at 99.6 per cent, with a positive rental reversion of 8.9 per cent.
However, its tenant retention rate fell to 52.2 per cent, mainly due to the exit of Cathay Cineplexes, which has since been replaced by Shaw Theatres. Excluding Cathay Cineplexes, tenant retention would have been 72.9 per cent, its manager noted.
Guy Cawthra, chief executive officer of the manager, said: &ldquo The portfolio continued to demonstrate resilience this quarter, underpinned by healthy operating metrics and disciplined capital management.&rdquo
The manager highlighted that visitor traffic continued to improve in Singapore, rising 7.7 per cent year on year, supported by targeted initiatives and active engagement efforts. These included campaigns by Singapore government agencies and marketing efforts at 313@somerset, aimed at boosting overall footfall and international interest along Orchard Road.
Tenant sales dipped 0.8 per cent year on year during the quarter. Excluding contributions from Cathay Cineplexes, tenant sales remained &ldquo largely stable&rdquo , said the manager.
It also announced that the divestment of its Jem office component is expected to be completed by Nov 12.
It was agreed in August that the office component, part of the Jem commercial-retail development, would be sold to Keppel for S$462 million.
The net proceeds from that will be used to repay borrowings, reducing aggregate leverage to about 35 per cent and breaking associated hedges.
About S$8.9 million in gains from the disposal will also be available for distribution to unitholders.
Following the divestment, the Reit&rsquo s weighted average lease expiry by net lettable area will be 4.7 years, from seven years as at Sep 30, 2025 for the full portfolio.
&ldquo With the divestment of Jem Office nearing completion, we feel confident that Lendlease Reit is well positioned for resilient growth,&rdquo said Cawthra.
The Reit also refinanced S$115.5 million of loans during the quarter.
Gross borrowings stood at about S$1.7 billion, with a weighted average debt maturity of 2.6 years and a gearing ratio of 42.7 per cent.
Lendlease&rsquo s manager noted that its unit price has risen approximately 14 per cent so far this year, outperforming the FTSE ST Reit Index by around five percentage points since January 2025. This followed its September inclusion in the iEdge Singapore Next 50 Index, which enhanced its visibility and broadened the Reit&rsquo s investor base.
Average daily trading volume has doubled to roughly 10 million units, or around S$6 million by value.
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Mark001
Veteran |
27-Oct-2025 11:26
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OK in short term & will up towards 0.7x. Not sure for long term.
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Goldfinger
Supreme |
26-Oct-2025 11:39
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Well, my position in LReit big enough to warrant my serious attention on CEO competence. For this, I am not uncomfortable with the new CEO.
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