Ascendas Reit

[greengiraffe]

Hi GG, a few days never see your posting, I thought you 退出江湖! [Image: 050E0000506006A29792734E54055D3B]
Anyway, it's great to see you post again. VB need your support.

Brother... thanks for yr support... I have been around. However, I have to be lower profile as there are some parties that are not impressed with my activism.

VB is a wonderful place for sharing as I have always said that there is plenty of $ (the honest ones to be made) in the croc infested pool.

I have always need an outlet for my extensive reading (which are always double edge) on top of my hectic family life. Frankly, as I have always looked at it in investments, $ is there to be made alongside with the experience gain through the process.

There are only a handful of real businessmen running real businesses, the rest we need not quantify.

I m more than happy to continue my daily duties as its part of me. Till the day I kicked (each day is getting nearer though), I will continue to share.

Thank you once again.
GG

[greengiraffe]

Asset-hungry Ascendas REIT circling Deka’s logistics property

• THE AUSTRALIAN
  
  
• DECEMBER 10, 2015 12:00AM
  
• Ben Wilmot
  [Image: ben_wilmot.png]
  Commercial property reporter
  Sydney
  
  

[img=650x0]http://cdn.newsapi.com.au/image/v1/827490597e1bdae4d0abecc824389fcc?width=650[/img]

Deka’s complex sits in western Sydney’s industrial hub with good access to the M4 Motorway.

[*]

Singapore-listed Ascendas REIT has signalled its intention to grow its Australian portfolio to well over $1 billion and is eyeing the purchase of a Sydney industrial complex for about $75 million.

The group this month confirmed the appointment of a senior Australian executive to run its local operations, with AMP Capital’s head of industrial property, Matthew Meredith, moving to the firm.
His shift is yet to take effect but Ascendas, already the ­nation’s eighth-largest industrial property owner, is looking to buy a complex being sold by German investment giant Deka Immobilien Investment. Ascendas has declined to comment on its interest in the asset, but its appetite and Mr Meredith’s role point to its longer-term plans in Australia.
The Singaporean trust recently finalised its acquisition of 26 logistics properties for $1.013 billion in a deal brokered by Colliers International and JLL. Nine are in Melbourne, the largest industrial property market in Australia in terms of land stock, a further nine are in Sydney, seven in Brisbane and one in Perth.
Deka put the logistics property in Sydney’s Greystanes on the block in October. The park is the only Australian industrial holding of Deka’s global open-ended fund. It picked up the 7.3ha industrial park for $53.5m from Stockland in 2008 and added value by extending a long-term lease to the NSW Police.
It also carries a long lease to Australia Post.
The 38,578sq m complex at 6-20 Clunies Ross Street sits in western Sydney’s industrial hub with good access to both the M4 Motorway and the Great Western Highway.
It is being marketed by Matthew Lee, Mark Hansen and Richard Butler of CBRE and Gavin Bishop and Harry Bui of Colliers International. The agents declined to comment.
Ascendas REIT chief executive Tan Ser Ping said of Mr Meredith’s appointment that he had “the experience and capabilities to execute A-REIT’s strategy in Australia and to deliver success from and grow our portfolio of Australian assets”.

[butcher]

seems like Ascendas REIT is eagerly and actively expanding overseas especially in Australia.

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Ascendas Reit’s results for the financial year ended 31 March (FY16/17)

Highlights :
* Gross revenue grew 9.1% to S$830.0 million versus previous financial year of S$761.0 million
* Total Amount Available for Distribution for FY16/17 grew 18.0% y-o-y to S$446.3 million
* FY16/17 DPU grew by 2.5% year-on-year (y-o-y) to 15.743 cents mainly attributable to contributions from new acquisitions made in the second half of FY15/16 and in FY16/17
* 4Q FY16/17 DPU rose 13.0% y-o-y to 3.852 cents, underpinned by higher net property income from new acquisitions and active cost management
* Operating performance improved: portfolio occupancy improved to 90.2% from 87.6% a year ago, and rental reversion of +3.1% was achieved.

More details in :
1. http://infopub.sgx.com/FileOpen/2.%20Asc...eID=449862
2. http://infopub.sgx.com/Apps?A=COW_CorpAn...FY1617.pdf
3. http://infopub.sgx.com/Apps?A=COW_CorpAn...FY1617.pdf

[cyclone]

Ascendas Reit divests 10 Woodlands Link

30 May 2017, Singapore
Ascendas Reit divests 10 Woodlands Link for S$19.28 million. The property will be sold with vacant possession. The proposed sale price of S$19.28 million is 60.7% higher than the original purchase price of S$12.0 million in 2005.  The Property has been vacant since December 2016 after the lease expiry of the single tenant. The Proposed Divestment is not expected to have any material effect on Ascendas Reit’s net asset value and distribution per Unit for FY17/18.

[cyclone]

Change of Ascendas Reit's Financial Year End

Ascendas Funds Management (S) Limited, the manager of Ascendas Real Estate Investment Trust announced that Ascendas Reit is changing its financial year end from 31 March to 31 December. Therefore, the current financial year will be a 9-month period from 1 April 2019 to 31 December 2019. Thereafter, Ascendas Reit’s financial year will be a 12-month period ending on 31 December each year.

More details in https://links.sgx.com/FileOpen/Ascendas%...eID=571535

[cyclone]

Ascendas Reit acquires its fourth suburban office in Australia for A$110.9 million

Ascendas Funds Management (S) Limited, the Manager of Ascendas Real Estate Investment Trust, announced the acquisition of a suburban office building, to be constructed at 254 Wellington Road, in Melbourne, Australia, for A$110.9 million (S$104.4 million) from ESR FPA (Wellington Road) Pty Limited.

Details of the Acquisition
The Trust Company (Australia) Limited, as trustee of Ascendas Business Park Trust No.2 (indirectly wholly-owned by Ascendas Reit), has today entered into an agreement with the Vendor for the purchase of the freehold land and the subsequent development of the suburban office building at 254 Wellington Road.

The Purchase Consideration of A$110.9 million, which comprises the land and development cost, is in line with the “as if complete” market valuation of the Property (A$110.9 million as at 1 August 2019).

Ascendas Reit is expected to incur an estimated total transaction cost of A$1.3 million (S$1.2 million) which includes stamp duty, professional advisory fees, and acquisition fees payable to the Manager in cash (being 1% of the Purchase Consideration of A$110.9 million, which amounts to approximately A$1.109 million (S$1.044 million)).

The Property is expected to receive practical completion in 2Q 2020, upon which automotive company, Nissan Motor Co. (Australia) Pty Ltd, will commence a 10-year lease for 65.2% of the space. This lease has a built-in rent escalation of 3.0% per annum. The Vendor will continue to market the remaining space in the Property. From practical completion of the Property, the Vendor will provide a three-year rental guarantee for any remaining vacant space.

Net property income yield for the first year is approximately 5.8% and 5.7% pretransaction costs and post-transaction costs respectively. The annualised pro forma financial effect of the acquisition on FY18/19 distribution per Unit would be an improvement of 0.014 Singapore cents. The acquisition will be funded through internal resources and/or existing debt facilities.

Including the Property, Ascendas Reit will own 97 properties in Singapore, 36 properties in Australia and 38 properties in the United Kingdom. The Australian portfolio’s pro forma weighted average lease term to expiry is expected to improve to 4.5 years from 4.3 years as at 30 June 2019.

More details in https://links.sgx.com/FileOpen/Press%20r...eID=580608

[cyclone]

Launch of  S$1,310 Million Rights Issue

Ascendas Funds Management (S) Limited, in its capacity as the manager of Ascendas Real Estate Investment Trust ("Ascendas Reit") announced that HSBC Institutional Trust Services (Singapore) Limited, as trustee of Ascendas Reit, had entered into agreements for the acquisition of a portfolio of 28 business park properties located in the United States of America and two business park properties located in Singapore (the "Proposed Acquisitions"). 

To finance the Proposed Acquisitions, the Manager proposes to undertake an underwritten and renounceable rights issue of 498,040,904 new units in Ascendas Reit to raise gross proceeds of approximately S$1,310 million.

Pursuant to the Rights Issue, 498,040,904 Rights Units will be offered at the rights ratio of 16 Rights Units for every 100 existing units of Ascendas Reit held as at the time and date on which the transfer books and register of Unitholders of Ascendas Reit will be closed to determine the provisional allotments of Rights Units to the Eligible Unitholders (fractional entitlements to be disregarded).

The Rights Issue would provide Unitholders with the opportunity to subscribe for their pro rata entitlement to the Rights Units at an issue price of S$2.63 per Rights Unit, which represents a discount of:
(i) approximately 17.0% to the closing price of S$3.17 per Unit on the SGX-ST on 31 October 2019, being the last trading day of the Units prior to the announcement of the Rights Issue; 
(ii) approximately 15.0% to the theoretical ex-rights price (“TERP”) of S$3.0955 per Unit.

More details in :
1. https://links.sgx.com/FileOpen/1.%20Righ...eID=583975
2. https://links.sgx.com/FileOpen/2.%20Offe...eID=583976
3. https://links.sgx.com/FileOpen/3.%20Noti...eID=583977

[cyclone]

Ascendas REIT to buy Sydney property for $284 million

The Edge Singapore Published on Fri, Dec 11, 2020 / 8:53 AM GMT+8 / Updated 4 hours ago

Ascendas Real Estate Investment Trust (Ascendas Reit) is buying a Sydney suburban office property for A$288.9 million ($284 million) from AMP Capital.

The property, at 1 – 5 Thomas Holt Drive, Macquarie Park will be Ascendas’ fifth suburban office property investment in Australia. With this acquisition, Sydney accounts for 48% of its Australian portfolio.

“We are continuing to expand our suburban office portfolio in Australia as affordable satellite hubs such as Macquarie Park remain attractive for companies seeking to decentralise from the central business district,” says William Tay, executive director and CEO of the REIT’s manager.

The property consists of three suburban office blocks with a net lettable area of 39,188 square metres, located on freehold land.

It is now fully occupied with a long weighted average lease to expiry (WALE) of 4.5 years, which will lengthen the Australian portfolio’s WALE from 4.3 years to 4.4 years.

The leases are double net and have built in annual rental escalations of 3.25% to 3.75% providing stable organic growth for Ascendas Reit.The leases are double net and have built in annual rental escalations of 3.25% to 3.75% providing stable organic growth for Ascendas Reit.

Key tenants include Australian companies wholesale distribution and marketing company Metcash and Foxtel, a joint venture of Nasdaq-listed media giant News Corporation and Australia’s incumbent telco Telstra.

More details in https://www.theedgesingapore.com/news/re...84-million

[cyclone]

Ascendas REIT is buying new Aussie logistics property for $69.1 mil

Jeffrey Tan
Published on Wed, Dec 23, 2020 / 6:14 PM GMT+8

Ascendas Real Estate Investment Trust (Ascendas REIT) has proposed to acquire a new logistics property that will be developed in Brisbane for $69.1 million.

This comes after Ascendas REIT completed the acquisition of the land today.

The proposed acquisition will be funded through internal resources and/or existing debt facilities.

According to Ascendas REIT, the property is in Crestmead, which is about 32 km south of the Brisbane CBD.

Crestmead is an established hub for interstate, intrastate and metropolitan distribution, it says.

More details in https://www.theedgesingapore.com/news/co...ty-691-mil

See also :
1. https://links.sgx.com/1.0.0/corporate-an...ec2020.pdf
2. https://links.sgx.com/1.0.0/corporate-an...ec2020.pdf