DEALS ROUND-UP
REIT ASIAPAC
Asia Pacific Major Deals Round-up
SINGAPORE
AIMS APAC REIT Completes Acquisition of Queensland Property
Deal Type : Acquisition
Value : A$38.46 million (US$27.05 million)
Date : July 15
The acquired property is located on 209-217 Burleigh
Connection Road, Burleigh Heads, Queensland, Australia. The
completion of this deal brings AIMS APAC REIT’s total industrial
properties to 27, of which 25 are in Singapore.
Suntec REIT Buys Pyrmont Grade-A Office Building
Deal Type : Acquisition
Net Lettable Area : 18,896.5 m
Value : A$297 million (US$199.5 million)
Date : July 1
Suntec REIT said the acquisition will be funded by their
dollar bank borrowings to provide a natural currency hedge.
The property is located at 21 Harris Street in Pyrmont and is
envisioned to be a “campus-style” building. The acquisition is
expected to be completed in 2020.
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Suntec REIT Acquires Adelaide Office Property
Deal Type : Acquisition
Net Lettable Area : 26,198.7 m 2
Value : A$148.3 million (US$104.3 million)
Date : July 15
Located in 55 Currie Street, the acquisition is Suntec’s first
venture in Adelaide. The initial net income yield of the property
is expected to be 8%. Adelaide is expected to benefit from
increased public and infrastructure spending.
Ascott Residence Trust and Ascendas Hospitality Trust Enter Combination Deal
Deal Type : Merger
Value : S$1.26 billion (US$910 million)
Resulting Assest Base : S$7.6 billion (US$5.47 billion)
Date : July 3
The proposed combination of Ascott Residence Trust and
Ascendas Hospitality Trust is expected to create Asia Pacific’s
largest hospitality trust.
CapitaLand Commercial Trust To Lease 21 Collyer Quay to WeWork Singapore
Deal Type : Lease Agreement
Net Lettable Area : approximately 18,580 m 2
Value : S$462.2 million (US$332.78 million)
Date : July 17
Capitaland Commercial Trust’s lease agreement with WeWork
Singapore is expected to commence in the second quarter of
2021, for seven years. The property is presently leased to The
Hongkong and Shanghai Banking Corporation Limited for one
year.
Frasers Logistics & Industrial Trust completes acquisitions in Germany and Australia
Deal Type : Acquisition
Total Value : S$315.3 million (US$227.08 million)
Date : July 3
Frasers Logistics & Industrial Trust said acquisition of multiple
properties in Australia and Germany is expected to deepen their
presence in these two countries’ “attractive logistics markets”
and will add more prime, modern, high-quality facilities to their
existing portfolio.
AIMS APAC REIT Secures Ten-Year Master Lease For Ongoing 3 Tuas Avenue 2 Redevelopment
Deal Type : Lease Agreement
Gross Area : 24,898 m 2
Value : S$51.8 million (US$37.3 million)
Date : July 18
The master tenant of AIMS APAC REIT’s property is a US-based
global medical device company. The property’s redevelopment
was set to be completed in 2019 but was moved to 2020 due to
redesigning of its base-build for the master tenant’s operational
requirements.
Mapletree Industrial Trust To Embark On Its Largest Redevelopment Project
Deal Type :
Mapletree Industrial will be redeveloping the Kolam Ayer
2 Cluster in Singapore into a high-tech industrial precinct.
The property will include a “build-to-suit” facility for a global
medical device company headquartered in Germany. The facility
will account for 24.4% of the enlarged gross floor area upon
completion.
Redevelopment
Resulting Gross Floor Area : 80,417 m
2
Value : S$263 million (US$189.37 million)
Date : July 10
Ascendas India Trust To Acquire 7th Warehouse in India
Deal Type : Construction and Acquisition
Total Leasable Area : 30,240 m 2
Value : S$42 million (US$30.93 million)
Date : July 11
Deal Type : Acquisition
Deal Value : S$225 million (US$162 million)
Date : August 7
ESR REIT acquired the property in 48 Pandan Road, Singapore
under a joint venture with Poh Tiong Choon Logistics Limited.
The acquisition brings ESR REIT’s interest holdings to 57
properties.
GIC Acquires 25.1% Stake In Lendlease International Towers Sydney Trust
The warehouse will be located at Arshiya Free Trade
Warehousing Zone, Panvel, near Navi Mumbai. Ascendas India’s
first six operating warehouses are already near full occupancy.
This seventh warehouse is seen to meet the current demand
from existing and prospective tenants.
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ESR REIT Completes Acquisition of Singapore Property
Deal Type : Acquisition
Date : August 19
The Singapore’s sovereign wealth fund will acquire a 25.1%
stake in Lendlease International Towers Sydney Trust (LLITST)
from Canada Pension Plan Investment Board and Lendlease.
LLITST holds assets located in the Barangaroo Office Precinct in
the Sydney Central Business District.
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