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04-12-2013, 08:00 PM
Very interesting development forthcoming for CDL Htrust.
In a low-key announcement, CDL Htrust announced the acquisition of Jumeirah Dhevanafushi in the Maldives at a purchase price of US$59.6 million. In itself, its not a big acquisition but the most interesting aspect is that the dormant Business Trust (BT) component of the trust will be activated to be the master lessee for the operations.
So CDL Htrust will be the second listed stapled security to have both the REIT and BT active. So it will be interesting to see how Mr Market react to the latest development. With the downward trajectory of the general REIT market, its hard to tell. My guess would be it fairly insignificant component for now. So the BT's overall contribution will be fairly minor.
Press Release: CDL HOSPITALITY TRUSTS TO ACQUIRE SECOND MALDIVES PROPERTY, JUMEIRAH DHEVANAFUSHI
Presentation Slides: Acquisition of Jumeirah Dhevanafushi, Maldives
In a low-key announcement, CDL Htrust announced the acquisition of Jumeirah Dhevanafushi in the Maldives at a purchase price of US$59.6 million. In itself, its not a big acquisition but the most interesting aspect is that the dormant Business Trust (BT) component of the trust will be activated to be the master lessee for the operations.
So CDL Htrust will be the second listed stapled security to have both the REIT and BT active. So it will be interesting to see how Mr Market react to the latest development. With the downward trajectory of the general REIT market, its hard to tell. My guess would be it fairly insignificant component for now. So the BT's overall contribution will be fairly minor.
Press Release: CDL HOSPITALITY TRUSTS TO ACQUIRE SECOND MALDIVES PROPERTY, JUMEIRAH DHEVANAFUSHI
Presentation Slides: Acquisition of Jumeirah Dhevanafushi, Maldives