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chengwh1 Elite	07-Apr-2019 18:01        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I guessed that' s why the dpu in the proforma financial effects workout for this acquisition remains the same, ie with just a small change from 5.54c to 5.56c only. Even with no increase in units, ie... all funds utilized to perform the acquisition came from internal resources  and from loans only, still the dpu could not increase. The yield of the property is  just not good enough. I certainly hoped the next acquisition will have a better quality than this. The yield for SPH REIT is really lousy,.. just 5.22% only at a unit price of $1.05.... Does anybody know what is the rental increment terms built-into the rental agreement for Figtree Groves ? What is the percentage every year, if any ?? laksaman57      ( Date: 19-Dec-2018 10:50) Posted: https://theurbandeveloper.com/articles/sub-regional-shopping-centres-struggling-in-new-retail-landscape
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Starship Supreme	19-Dec-2018 17:36        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	In Aust, only Sydney and Melbourne are boom towns. Everywhere else are Ulu Towns aka Ghost Towns.  Lol.   Goldfinger      ( Date: 19-Dec-2018 10:26) Posted: Alamak - why go all the way there? So ulu. Should buy Seletar Mall instead or NEX!!! But, the good thing is that the land is freehold, so can redevelop one day. katak88      ( Date: 19-Dec-2018 09:31) Posted: SPH Reit seeks diversification Down Under with A$206m mall buy TUE, DEC 18, 2018 - 8:53 PM   SPH Reit on Tuesday announced the proposed acquisition of Figtree Grove Shopping Centre in Australia for A$206 million (S$206 million) from an unrelated third party, Swordfish Australian Mid TC. SPH Reit' s 85-per-cent contribution to the property price is A$175.1 million, or A$188.2 million after including fees. On acquisition, the property is expected to generate a net property income yield of about 5.7 per cent after taking into account the transaction costs. The buyer trust is a wholly-owned sub-trust of SPH Reit Moelis Australia Trust, which in turn is jointly held by SPH Reit and several entities managed by the asset management division of listed financial services group Moelis Australia in the proportion of 85:15.  Figtree Grove is a sub-regional shopping centre located on Princes Highway, Figtree, Wollongong, in New South Wales. The property sits on a freehold land area of 50,900 sq m and has a total gross lettable area of 21,984 sq m.  SEE ALSO:  SPH Reit diversifies Down Under Anchored by 24-hour Kmart, Coles and Woolworths supermarkets, it focuses on non-discretionary shopping with about 58 per cent of space leased to supermarkets and a discount departmental store. The property has an occupancy rate of 98.5 per cent. The seller will provide gross rental guarantees, capped at A$800,000, on vacant tenancies for 12 months from the date of completion of the deal. SPH Reit said the proposed acquisition is in line with its strategy to diversify its income and geographical exposure. Figtree Grove will provide the Reit with about 5.2 per cent exposure by asset value to Australia. " The proposed acquisition is SPH Reit' s first foray overseas and will enhance SPH Reit' s geographical diversification," it said. The purchase is to be financed through a combination of debt and internal sources. SPH Reit' s gearing ratio will be about 30.1 per cent after the acquisition is completed. Separately, the manager of SPH Reit updated that for the secured term loan facility of S$975 million, incremental facility notices were established for a three-year loan of S$50 million and a four-year loan of S$50 million. The incremental loans will be converted to Australian-denominated loans via cross-currency swaps. The proceeds from the loans will be applied to partially finance the proposed acquisition in Figtree Grove. The deal is conditional on the necessary approvals being granted by the relevant authorities. SPH Reit is sponsored by Singapore Press Holdings, which owns The Business Times. Its units closed flat at S$1.01 on Tuesday. https://www.businesstimes.com.sg/companies-markets/sph-reit-seeks-diversification-down-under-with-a206m-mall-buy
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laksaman57 Supreme	19-Dec-2018 16:11        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.insideretail.com.au/news/australian-dollar-slides-22-201812
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laksaman57 Supreme	19-Dec-2018 10:50        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://theurbandeveloper.com/articles/sub-regional-shopping-centres-struggling-in-new-retail-landscape
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Goldfinger Supreme	19-Dec-2018 10:26        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Alamak - why go all the way there? So ulu. Should buy Seletar Mall instead or NEX!!! But, the good thing is that the land is freehold, so can redevelop one day. katak88      ( Date: 19-Dec-2018 09:31) Posted: SPH Reit seeks diversification Down Under with A$206m mall buy TUE, DEC 18, 2018 - 8:53 PM   SPH Reit on Tuesday announced the proposed acquisition of Figtree Grove Shopping Centre in Australia for A$206 million (S$206 million) from an unrelated third party, Swordfish Australian Mid TC. SPH Reit' s 85-per-cent contribution to the property price is A$175.1 million, or A$188.2 million after including fees. On acquisition, the property is expected to generate a net property income yield of about 5.7 per cent after taking into account the transaction costs. The buyer trust is a wholly-owned sub-trust of SPH Reit Moelis Australia Trust, which in turn is jointly held by SPH Reit and several entities managed by the asset management division of listed financial services group Moelis Australia in the proportion of 85:15.  Figtree Grove is a sub-regional shopping centre located on Princes Highway, Figtree, Wollongong, in New South Wales. The property sits on a freehold land area of 50,900 sq m and has a total gross lettable area of 21,984 sq m.  SEE ALSO:  SPH Reit diversifies Down Under Anchored by 24-hour Kmart, Coles and Woolworths supermarkets, it focuses on non-discretionary shopping with about 58 per cent of space leased to supermarkets and a discount departmental store. The property has an occupancy rate of 98.5 per cent. The seller will provide gross rental guarantees, capped at A$800,000, on vacant tenancies for 12 months from the date of completion of the deal. SPH Reit said the proposed acquisition is in line with its strategy to diversify its income and geographical exposure. Figtree Grove will provide the Reit with about 5.2 per cent exposure by asset value to Australia. " The proposed acquisition is SPH Reit' s first foray overseas and will enhance SPH Reit' s geographical diversification," it said. The purchase is to be financed through a combination of debt and internal sources. SPH Reit' s gearing ratio will be about 30.1 per cent after the acquisition is completed. Separately, the manager of SPH Reit updated that for the secured term loan facility of S$975 million, incremental facility notices were established for a three-year loan of S$50 million and a four-year loan of S$50 million. The incremental loans will be converted to Australian-denominated loans via cross-currency swaps. The proceeds from the loans will be applied to partially finance the proposed acquisition in Figtree Grove. The deal is conditional on the necessary approvals being granted by the relevant authorities. SPH Reit is sponsored by Singapore Press Holdings, which owns The Business Times. Its units closed flat at S$1.01 on Tuesday. https://www.businesstimes.com.sg/companies-markets/sph-reit-seeks-diversification-down-under-with-a206m-mall-buy
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katak88 Veteran	19-Dec-2018 09:31        katak88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	SPH Reit seeks diversification Down Under with A$206m mall buy TUE, DEC 18, 2018 - 8:53 PM   SPH Reit on Tuesday announced the proposed acquisition of Figtree Grove Shopping Centre in Australia for A$206 million (S$206 million) from an unrelated third party, Swordfish Australian Mid TC. SPH Reit' s 85-per-cent contribution to the property price is A$175.1 million, or A$188.2 million after including fees. On acquisition, the property is expected to generate a net property income yield of about 5.7 per cent after taking into account the transaction costs. The buyer trust is a wholly-owned sub-trust of SPH Reit Moelis Australia Trust, which in turn is jointly held by SPH Reit and several entities managed by the asset management division of listed financial services group Moelis Australia in the proportion of 85:15.  Figtree Grove is a sub-regional shopping centre located on Princes Highway, Figtree, Wollongong, in New South Wales. The property sits on a freehold land area of 50,900 sq m and has a total gross lettable area of 21,984 sq m.  SEE ALSO:  SPH Reit diversifies Down Under Anchored by 24-hour Kmart, Coles and Woolworths supermarkets, it focuses on non-discretionary shopping with about 58 per cent of space leased to supermarkets and a discount departmental store. The property has an occupancy rate of 98.5 per cent. The seller will provide gross rental guarantees, capped at A$800,000, on vacant tenancies for 12 months from the date of completion of the deal. SPH Reit said the proposed acquisition is in line with its strategy to diversify its income and geographical exposure. Figtree Grove will provide the Reit with about 5.2 per cent exposure by asset value to Australia. " The proposed acquisition is SPH Reit' s first foray overseas and will enhance SPH Reit' s geographical diversification," it said. The purchase is to be financed through a combination of debt and internal sources. SPH Reit' s gearing ratio will be about 30.1 per cent after the acquisition is completed. Separately, the manager of SPH Reit updated that for the secured term loan facility of S$975 million, incremental facility notices were established for a three-year loan of S$50 million and a four-year loan of S$50 million. The incremental loans will be converted to Australian-denominated loans via cross-currency swaps. The proceeds from the loans will be applied to partially finance the proposed acquisition in Figtree Grove. The deal is conditional on the necessary approvals being granted by the relevant authorities. SPH Reit is sponsored by Singapore Press Holdings, which owns The Business Times. Its units closed flat at S$1.01 on Tuesday. https://www.businesstimes.com.sg/companies-markets/sph-reit-seeks-diversification-down-under-with-a206m-mall-buy
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