Wednesday, November 24, 2010


AIMS Amp REIT: Several updates.
1) Sale of 23 Changi South Ave 2 $500k above book value, following 3 Nov announcement of option issued to Premier Land for sale of said property for $16.7m. Premier Land exercised option and paid $1.7m in total as of 15 Nov, remainder to be settled by Jan 2011...
2) Signing of 3 long term leases with tenant T-System at 23 Tai Seng Driv. 2 Leases to expire on July 2020 with option to renew, last lease is for 5 yrs, total of over 64% leased to T-System with occupancy of said property at 100%.
3) 100% occupancy also achieved at 15 Tai Seng Drive. Total occupancy for REIT now in excess of 98%...
4) New senior asset mgr prev from MIT joins AIMS REIT mgr. DPU for 1H10 is at 0.93c. Assuming closing price at $0.215, annualized yield of approx 8.7%.

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