Frasers Commercial Trust Divests 55 Market Street

Frasers seems pretty active in the divestment of their assets. I believe this is part of capital recycling. With Frasers Logistics and Industrial Trust announcing the divestment of one of their Australian asset ( Frasers Logistics and Industrial Trust Divests 80 Hartley Street Asset ), I received notification that Frasers Commercial Trust is divesting one of their Singapore properties, which is 55 Market Street. Frasers Commercial Trust currently makes up 2% of my stock portfolio.

55 Market Street is a 16-storey commercial property located in Raffles Place. The tenure is 999 years starting from April 1826. The total net lettable area is 71,796 square feet. Frasers Commercial Trust considers the property as a non core asset. Read More

Frasers Logistics and Industrial Trust Divests 80 Hartley Street Asset

The manager for Frasers Logistics and Industrial Trust is full of action. After the recent aggressive acquisition of Germany and Netherlands assets, it has recently announced a divestment of one of its Australian asset.

Frasers Logistics and Industrial Trust will be divesting one of its Australian asset (“80 Hartley Street, Smeaton Grange, NSW”) for A$90.5 million (S$90.5 million). The Property was purpose-built for Coles Supermarkets Australia Pty Ltd and will have a remaining lease term of approximately five years, upon extension of the existing lease.

The sale consideration is 40.3% above the book value of the Property of A$64.5 million (approximately S$64.5 million) as at 31 March 2018 and at a 39.2% premium over the original purchase price paid by Frasers Logistics and Industrial Trust of A$65.0 million (approximately S$65.0 million). There will be a divestment fee of A$452,500 paid to manager.

The estimated divestment gain over the book value of the Property is approximately A$17.7 million (approximately S$17.7 million). Read More

Results of My Application for Frasers Logistics and Industrial Trust Preferential Offering

Last month, I have bought Frasers Logistics and Industrial Trust which entitles me to the recent public placement via Preferential Offering. One Preferential Offering new unit was offered for every ten existing units of Frasers Logistics and Industrial Trust you held. Each new Preferential Offering new unit was offered at S$0.967.

Based on the closing price of S$1.03 on 1st June 2018, the new Preferential Offering new units will be a 6.51% discount if you have applied for it. Yes, I have taken up the offer for the Preferential Offering and also subscribed for excess units. Read More