REITs: Positioning for the imminent trough in industrials
-Global property investment fund TH Real Estate (US$96b AuM) is looking to bargain hunt for Spore warehouses against the current supply overhang
-70% of new supply in 2016-17 comprises single user developments with pre-tenant commitments.
-Government is also paring industrial land sales
-supply pressures should give way to positive rental reversion post-2017.
-Maybank KE has Buy call for Ascendas REIT (TP: $2.57), Maple Industrial Trust ($1.78), AIMS AMP ($1.55)
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