Starhill Global REIT Sells Nakameguro Place Property

Following my updates on Starhill Global REIT’s recent financial results ( Starhill Global REIT 3Q2017/18 Results Is Disappointing ) , the manager of the REIT has announced the divestment of one of its Japan properties. The divested property is located in the Nakameguro district and is a 4-storey building mainly for retail use. The property by asset value accounts for 8.6% of the Japan portfolio and 0.2% of Starhill Global REIT’s portfolio.

The property is valued at JPY 420 million (estimate S$5.1 million) but was sold for JPY 525 million. I consider it as a decent transaction. If you didn’t know, the property was acquired in 2007 together with 6 other properties in Tokyo for approximate S$182.5 million. The Nakameguro place property was one of the property within the Fund Creation Portfolio which was then owned by Fund Creation Co Pte Ltd. Read More

Starhill Global REIT 3Q2017/18 Results Is Disappointing

Starhill Global REIT Logo

On 26 April 2018, Starhill Global REIT has released a set of disappointing 3QFY17/FY18 results. Gross Revenue, Net Property Income (“NPI”), Distributable Income and Distribution Per Unit (“DPU”) has all declined.

Despite the fact that distributable income has declined by 6.3%, the manager retained $1.6 million for working capital purposes, worsening the income to be distributed to unit holders. Distribution Per Unit (“DPU”) fell by 7.6%. This was unexpected of a Retail/Office REIT.
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CapitaLand Mall Trust 1Q2018 Financial Results and Divestment of Sembawang Shopping Mall

CapitaLand Mall Trust, Singapore’s first and largest retail REIT has recently announced a decent set of 1Q2018 financial results. I shall not dwell too much into its financial results as you can judge them yourself based on the results below but all I can say is that I am happy to see Distribution Per Unit (“DPU”) increase by 1.8%.

CapitaLand Mall Trust currently makes up 12% of my stock portfolio and I am excited to receive higher dividends quarter on quarter.

1Q2018
(S$’000)
1Q2017
(S$’000)
Change
Gross Revenue 175,164 172,023 1.8%
Net Property Income 125,651 120,060 4.7%
Distributable Income 98,963 96,973 2.1%
Distribution Per Unit (“DPU”) (cents) 2.78 2.73 1.8%

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