Ascendas REIT: Acquiring a logistics property in Sydney, Australia, for A$76.6m ($76.6m) in the wake of its recent equity fund raising.
To recap, the industrial REIT recently raised funds via a private placement of 90m new units at $2.223 apiece, and is currently launching a 3-for-80 preferential offering at $2.218/unit.
The 38,579 sqm gfa warehouse and office property at 6-20 Clunies Ross Street, Pemulwuy, is located within Sydney's premium logistics and distribution hub and is currently tenanted to two government-related entities, Australia Post and New South Wales Police, generating a NPI yield of 7.1%.
On an annualised basis, pro forma DPU contribution from the acquisition is estimated at 0.7¢, which is a 4.2% accretion to its 2QFY16 annualised DPU of 16.64¢.
Maybank-KE's last rating on Ascendas REIT is a Hold, with TP of $2.28.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment