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Under a 2016 lease agreement, Urban Common &ndash the sponsor of Eagle US Hospitality Trust &ndash was tasked with the repair of The Queen Mary in exchange for a 66-year lease on the property.
Under the agreement, Long Beach said it would shoulder US$23 million for the most urgent repair work, with Urban Commons covering the remainder of the costs.
If the cost of repair comes up to US$289 MILLION as estimated ..then it means REIT SPONSOR - urban common have to come out with US $ 250 million
Where to find these money ? Stop DPU for few years ? Or rights issue ASAP ?
According to that report, the total cost of ship repairs could range from US$235 million ($320 million) to US$289 million. In addition, it estimated that the work would take approximately five years to complete, with some 75% of repairs deemed &ldquo urgent&rdquo .
According to EHT&rsquo s IPO prospectus, The Queen Mary has been valued at US$159.4mil and has an occupancy rate of 69.8% as at FY18. And with its prospects of improvement diminishing, it raises a titanic question on the adverse effects this may have on the newly-listed REIT.
Eagle US Hospitality Trust could get wings clipped as key asset The Queen Mary sinks into disrepairUma Devi 23/10/2019, 8:04pmSINGAPORE (Oct 23): The Queen Mary Long Beach, a decommissioned ocean liner that has now been converted into a 347-room upscale hotel in California, is one of the key assets in the 18-property portfolio of Eagle US Hospitality Trust.
But following a series of damning reports by an independent inspector hired by the City of Long Beach, Eagle US Hospitality Trust could soon lose its prized possession.
Oh really did i miss out something about viva ?
viva listed at 78c ..then traded down to below 70c
then news of proposed industrial reit merger popped up
Esr reit merger comfirmed at certain price.. that is why finally it ended above ipo price
Anyway eagle at 63.5 looks tempting
Your remark glaringly exposed how little you know about Viva history.
danger ( Date: 23-Oct-2019 17:33) Posted:
| Viva reit without ESR merger wouldnt have got so lucky |
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Thanks - useful reference.. This tells me that Long Beach is really beholden to the Queen Mary - if it needs to fund part of the restoration work. If its fate is intertwined, then the Queen Mary has quite a fair amount of bargaining power.n3wbie ( Date: 23-Oct-2019 17:33) Posted:
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Viva reit without ESR merger wouldnt have got so lucky
Lesson can be learnt from Viva reit, which major SSH was from China. Its humble beginning and later rise is worth your research. Don' t be misled by for those who promote the so called cornerstone investor safety net. Hyflux had cornerstone investor. Asian Pay Tv Trust had cornerstone investor. Noble had cornerstone investor. No forgetting
HPH Trust. Dyodd.
jamesng ( Date: 23-Oct-2019 15:16) Posted:
| From China??? Will they dump if trade war get worse??? |
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Many retail investors already lost alot $ by listening to you @HPH Trust. Your so called " anchor shareholder" narrative over at HPH Trust was a major contributing factor that retail investors fell for.
danger ( Date: 23-Oct-2019 15:41) Posted:
Scare is these SSH individual ,, suka suka say raise funds for acquistion by rights issue ... they are SSH .. nobody to stop them
Buy dont know what asset ... then habis |
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maybe 63.5 can buy ? higher yield ? Yet no LOSS from price dive
laksaman57 ( Date: 03-Oct-2019 22:04) Posted:
@68cts annualised yield for
FY2019 - 9.40%
FY2020 - 9.63% |
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63.5 lowest ?
T
This Eagle can' t flap her wings, so can' t soar.
danger ( Date: 23-Oct-2019 15:20) Posted:
Starship ( Date: 24-May-2019 13:57) Posted:
Redflags...........................
No institutional following
The cornerstone investors for the EHT offering are DBS Bank and its wealth management clients Gold Pot Developments, which is controlled by Gordon Tang and Ji Qi, founder and executive chairman of Nasdaq-listed Huazhu Group &mdash one of China&rsquo s biggest multi-brand hotel chain management groups &mdash and co-founder of Ctrip.com. DBS Bank and its wealth management clients Tang and Ji will together own a 16.7% stake in EHT.
Howard Wu and Taylor Woods, who own the sponsor Urban Commons, will roll their equity into EHT and each hold a 7.6% stake, while Takoushian will own 1.2%. The rest of the placement tranche is likely to have been distributed to family offices and accredited investors.
On May 23, Eagle announced that while its placement tranche was fully subscribed, it received applications for merely 18.3 million shares of the 44.9 million made available to the public, suggesting scant retail interest.
A major concern is that the cornerstone investors are not institutional names, market watchers say, but high-net-worth individuals and mainland Chinese.
https://www.theedgesingapore.com/print-edition/eagle-hospitality-trust-offers-highest-forecast-yields-among-hospitality-trusts-and |
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Scare is these SSH individual ,, suka suka say raise funds for acquistion by rights issue ... they are SSH .. nobody to stop them
Buy dont know what asset ... then habis
Starship ( Date: 24-May-2019 13:57) Posted:
Redflags...........................
No institutional following
The cornerstone investors for the EHT offering are DBS Bank and its wealth management clients Gold Pot Developments, which is controlled by Gordon Tang and Ji Qi, founder and executive chairman of Nasdaq-listed Huazhu Group &mdash one of China&rsquo s biggest multi-brand hotel chain management groups &mdash and co-founder of Ctrip.com. DBS Bank and its wealth management clients Tang and Ji will together own a 16.7% stake in EHT.
Howard Wu and Taylor Woods, who own the sponsor Urban Commons, will roll their equity into EHT and each hold a 7.6% stake, while Takoushian will own 1.2%. The rest of the placement tranche is likely to have been distributed to family offices and accredited investors.
On May 23, Eagle announced that while its placement tranche was fully subscribed, it received applications for merely 18.3 million shares of the 44.9 million made available to the public, suggesting scant retail interest.
A major concern is that the cornerstone investors are not institutional names, market watchers say, but high-net-worth individuals and mainland Chinese.
https://www.theedgesingapore.com/print-edition/eagle-hospitality-trust-offers-highest-forecast-yields-among-hospitality-trusts-and |
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From China??? Will they dump if trade war get worse???
you see this REIT dont have any instituitonal investors .. no Temasek no Morgan stanley , no SWF , no citibank .. nothing
The main shareholders are individual from china
jamesng ( Date: 23-Oct-2019 15:03) Posted:
| Anyone know why it dropped so much today??? |
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Actually, paiseh, I have a lot more to pile into these stuff. Have been making crazy good profits from the REITS rally this year. Really crazy good. Like a quarter of a million SGD from MINT already, besides others.danger ( Date: 23-Oct-2019 15:05) Posted:
gold finger become burnt finger
Promoter Laksaman also up lorry .. game over !
Goldfinger ( Date: 10-Oct-2019 10:43) Posted:
Continue to crumble - heavy selling this morning.
I was buying. |
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Maybe the game is just starting.
Buy low.
danger ( Date: 23-Oct-2019 15:05) Posted:
gold finger become burnt finger
Promoter Laksaman also up lorry .. game over !
Goldfinger ( Date: 10-Oct-2019 10:43) Posted:
Continue to crumble - heavy selling this morning.
I was buying. |
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