Monday, March 21, 2011
MapletreeIndTrust: Tenant Credit Suisse will leave its business park in 2012 when its leases are up. As of 28 Feb, firm occupied abt 1.1% of total NLA and adds 2.2% of total rental rev. Trust mgr will seek replacement tenants over nxt 21 mths and is looking to re-configure space to smaller units to secure higher rents. Co’s IPO was in Oct 2010 and is projecting an annualized yield of 6.8% at current price $1.02.