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http://singaporeanstocksinvestor.blogspot.com/2019/10/3q-2019-passive-income-ireit-global.html
" ...revealed that I significantly increased my investment in IREIT Global. "
" ...revealed that I significantly increased my investment in IREIT Global. "
https://links.sgx.com/1.0.0/corporate-announcements/44HLV606J5AXVSCL/162ad7d5134b09161cd4e926e1a35bd617ac43267ec7b45301fd183706bf6887
" A new lease commencing on 1 Jul 2019 was also secured at Mü nster South Building"
" A new lease commencing on 1 Jul 2019 was also secured at Mü nster South Building"
Not really relevant for iReit, they have no exposure to Frankfurt. I think it is too late to still move into Frankfurt offices, Brexit is mostly priced in and the office market is too small, not possible to find properties with decent reversionary yields anymore, so I hope/think iReit will focus on other places...Let' s not forget that Paris may be a bigger beneficiary from Brexit over the long term...
laksaman57 ( Date: 31-Jul-2019 09:49) Posted:
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https://www.ft.com/content/6e521f04-1332-11e9-a581-4ff78404524e
"Frankfurt real estate market booming as Brexit looms
Hottest City in Germany for commercial property sees surge in demand for office space"
"Frankfurt real estate market booming as Brexit looms
Hottest City in Germany for commercial property sees surge in demand for office space"
https://www.mas.gov.sg/-/media/MAS/resource/publications/consult_papers/2019/Consultation-Paper-on-Proposed-Amendments-to-the-Requirements-for-REITs.pdf
" MAS seeks views on whether it is appropriate for a REIT that has demonstrated good financial discipline, such as having a higher ICR Threshold, to be allowed a higher leverage, say 55%."
" MAS seeks views on whether it is appropriate for a REIT that has demonstrated good financial discipline, such as having a higher ICR Threshold, to be allowed a higher leverage, say 55%."
Interest Coverage Ratio 10
laksaman57 ( Date: 26-Jul-2019 08:58) Posted:
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https://www.cnbc.com/2019/07/25/ecb-rate-decision-juy-2019.html
" The central bank said it expects its key interest rates to remain &ldquo at their present or lower levels&rdquo at least through the first half of 2020, updating the wording on previous statements and suggesting a rate cut could be on the horizon."
" The central bank said it expects its key interest rates to remain &ldquo at their present or lower levels&rdquo at least through the first half of 2020, updating the wording on previous statements and suggesting a rate cut could be on the horizon."
chengwh1 ( Date: 30-Jul-2019 12:08) Posted:
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With riskier investments, first the interest rate will go up, reducing the ICR and lowering the Income Available for Distribution..
Secondly. with higher risk, IF the investments fails, for a REIT, say the tenant couldn' t service the rental with no opportunity to replace the tenant, our dpu payout will be impacted.
Secondly. with higher risk, IF the investments fails, for a REIT, say the tenant couldn' t service the rental with no opportunity to replace the tenant, our dpu payout will be impacted.
laksaman57 ( Date: 30-Jul-2019 09:49) Posted:
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Good for reit with high interest cover ratio.
Sometimes, I wonder,... is increasing the gearing limit a good move,... REIT mgrs might be tempted to increse their rosk profile by buying more ' risky' assets,...
https://www.fool.sg/2019/07/23/these-4-reits-could-benefit-if-leverage-limit-is-raised/
"REITs with a low cost of debt and an adequately high ICR are most likely to benefit from the raising of the limit as they have access to a lot of cheap debt. ...
IREIT Global is also investing in Europe, similar to Cromwell, and therefore enjoys a low cost of debt of 1.5%, along with ICR of 10.0 times.
"REITs with a low cost of debt and an adequately high ICR are most likely to benefit from the raising of the limit as they have access to a lot of cheap debt. ...
IREIT Global is also investing in Europe, similar to Cromwell, and therefore enjoys a low cost of debt of 1.5%, along with ICR of 10.0 times.
My understanding fromTikehau Capital is that the UK is not a preferred target country, they would rather look at France and maybe some other continental European countries
I hope they don' t go into the UK, since the Brexit mess is long from finished, it is way to early for good opportunities there.
Moreover CDL doesn' t need a vehicle to recycle its UK assets
I hope they don' t go into the UK, since the Brexit mess is long from finished, it is way to early for good opportunities there.
Moreover CDL doesn' t need a vehicle to recycle its UK assets
FreedomInvestor ( Date: 30-Apr-2019 08:24) Posted:
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CDL has acquired a 50.0% stake in the Manager and a 12.4% stake in the units of IREIT.
Yesterday' s 3 mil married deal at 0.76 was likely to be CDL' s purchase from Lim Chap Huat. So CDL is acquiring the units at 1.3% premium to market price.
IREIT could be the vehicle for CDL to recycle its UK assets.
https://links.sgx.com/FileOpen/IREIT_Acquisition%20of%20Manager%20and%20IREIT_Press%20Release_30%20Apr%202019.ashx?App=Announcement& FileID=557037
Yesterday' s 3 mil married deal at 0.76 was likely to be CDL' s purchase from Lim Chap Huat. So CDL is acquiring the units at 1.3% premium to market price.
IREIT could be the vehicle for CDL to recycle its UK assets.
https://links.sgx.com/FileOpen/IREIT_Acquisition%20of%20Manager%20and%20IREIT_Press%20Release_30%20Apr%202019.ashx?App=Announcement& FileID=557037
Nav Sin$0.77
Gearing 36.6%
Gearing 36.6%
Thanks for the heads up!
laksaman57 ( Date: 21-Feb-2019 10:15) Posted:
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http://foreverfinancialfreedom.blogspot.com/2019/02/ireit-global-nav-up-by-116-for-fy18.html?m=1
http://theconversation.com/eu-japan-trade-deal-comes-into-force-to-create-worlds-biggest-trade-zone-110729
"Japan and the EU ? and Germany in particular ? are export-driven economies and advocates of open trade."
"Japan and the EU ? and Germany in particular ? are export-driven economies and advocates of open trade."
So,... looks like Brexit will benefit Germany' s REITs indirectly,.... The UK' s loss is Germany' s gain,...
https://www.ft.com/content/6e521f04-1332-11e9-a581-4ff78404524e
"On the eve of Brexit, the commercial real estate market in Germany?s financial capital Frankfurt is booming like never before."
"On the eve of Brexit, the commercial real estate market in Germany?s financial capital Frankfurt is booming like never before."
"The big banks were among the first to plan to move assets out of London, with Frankfurt standing to benefit handsomely."