Mapletree Industrial Trust *Official* (SGX: ME8U)

[Jupiter2017]

Mapletree Industrial Trust *Official* (SGX: ME8U)
Starting this separate dedicated thread for Mapletree Industrial Trust.
Older postings can be found under the Mapletree family joint thread:
http://forums.hardwarezone.com.sg/s...uartet-family-mlt-mint-mct-mgcct-3135013.html

 

[Jupiter2017]

http://www.businesstimes.com.sg/com...uires-us-data-centres-with-sponsor-for-us750m
MIT posts 6% rise in Q2 DPU, acquires US data centres with sponsor for US$750m
TUE, OCT 24, 2017 - 6:17 PM LYNETTE KHOO lynkhoo@sph.com.sg

IN a move to gain a strategic entry into the world's largest data centre market, Mapletree Industrial Trust (MIT) has teamed up with its sponsor Mapletree Investment to acquire a portfolio of 14 data centres in the US for US$750 million.
MIT announced this on Tuesday as it posted a 6 per cent rise in its distribution per unit (DPU) for the fiscal second quarter ended Sept 30 to three cents, on the back of revenue contribution from the build-to-suit project for HP Singapore and pre-termination compensation of S$3.1 million from Johnson & Johnson.
The maiden investment in the US provides a strategic entry into the largest and most established data centre market in the world, its Reit manager said on Tuesday.
This came as MIT announced last month a broadening of investment mandate from just Singapore industrial properties to include data centres worldwide.
For the purpose of this acquisition, a joint venture (JV) was formed between MIT and its sponsor Mapletree Investments.
Under the JV agreement, MIT will hold 40 per cent interest while Mapletree Investment will hold the other 60 per cent in the unlisted single purpose trust, Mapletree Redwood Data Centre Trust (MRDCT).
A conditional purchase-and-sale agreement was inked on Tuesday between MRDCT and the current owner Carter Validus Mission Critical Reit Inc to acquire the data centres.
The acquisition will be funded through a combination of equity and onshore debt financing.
On that note, MIT proposed on Tuesday a private placement of 68.3 million new units to institutional and other investors at between S$1.83 and S$1.90 per new unit to raise gross proceeds of up to S$125 million. This comes with an upsize option to issue up to 13.66 million new units to raise additional gross proceeds of up to S$25 million.
Some S$122.5 million of the gross proceeds will go towards partially funding MIT's share of the acquisition of the US data centres.
Upon completion of the acquisition, the US data centres will be held, directly and indirectly, through special purpose vehicles that are wholly owned by MRDCT and organised to qualify as Reits under US taxation laws.
Mapletree Investment has also granted MIT the right of first refusal to acquire its 60 per cent interest in the JV.

 

[Jupiter2017]

http://www.businesstimes.com.sg/com...t-price-talks-s190-rich-end-upsizes-to-s1557m
Mapletree Industrial sets placement at price talk's S$1.90 rich end, upsizes to S$155.7m
WED, OCT 25, 2017 - 7:59 AM KENNETH LIM kenlim@sph.com.sg

MAPLETREE Industrial Trust has priced an upsized S$155.7 million placement of units at S$1.90 apiece to cover the rich end of price talk.
The real estate investment trust (Reit) had planned to issue at least S$125 million of units between S$1.83 and S$1.90 per unit, with an over-allotment option of at least S$25 million. Bookrunner and underwriter DBS Bank received interest that was 3.3 times the shares available.
The issue price represents a 3.2 per cent discount to the counters volume-weighted average price of S$1.9623 on Tuesday. The units last changed hands at S$1.96 on Tuesday before the deal was announced.
Mapletree Industrial will declare an advanced distribution of between 3.97 Singapore cents and 4.01 Singapore cents per unit for the period from Oct 1, 2017 to the issuance date of the new units to ensure that existing unitholders receive a payout before getting diluted by the placement. Units issued through the placement will not be entitled to the advanced payout. The exact distribution amount will be determined at a later date.
The advanced distribution will be on top of the trust's quarterly distribution of three Singapore cents per unit, which was declared on Tuesday as the Reit announced its fiscal second-quarter results.
About S$152.7 million of the proceeds will be used to help fund the Reit's S$164.3 million share of a joint US$750 million acquisition of 14 data centres in the US. Mapletree Industrial's joint venture partner is its sponsor, privately held Mapletree Investments.
The remaining S$3 million of the proceeds will be used to pay placement-related expenses.

 

[Jupiter2017]

http://www.businesstimes.com.sg/com...-us7538m-joint-acquisition-of-14-data-centres
Mapletree Industrial Trust completes US$753.8m joint acquisition of 14 data centres in US
THU, DEC 21, 2017 - 8:37 AM RACHEL MUI rachmui@sph.com.sg

MAPLETREE Industrial Trust (MIT) has completed its US$753.8 million joint acquisition of 14 data centres in the US, the real estate investment trust (Reit) said on Thursday. The acquisition, with MIT's sponsor - privately held Mapletree Investments, was done through an unlisted single purpose trust, Mapletree Redwood Data Centre Trust.
The total investment comprises of a purchase consideration of US$750 million, as well as estimated stamp duty and other expenses of about US$3.8 million.
In all, MIT's investment in the joint venture (JV) comes up to about US$304.7 million.
This includes MIT's proportionate share of the purchase consideration worth US$300 million; estimated stamp duty and other expenses of about US$1.5 million; acquisition fee payable to Mapletree Industrial Trust Management Limited - manager for the JV, amounting to US$3 million to be paid in cash; and other JV-related expenses of about S$0.2 million.
Separately, the trust manager said that out of the S$155.7 million gross proceeds from its private placement, about S$153.1 million, or 98.3 per cent, has been used to partially fund MIT's net requirement of S$169.6 milion with regard to the joint venture and acquisition.
The remaining S$2.6 million, or 1.7 per cent of proceeds, has been used to pay placement-related expenses. Accordingly, proceeds from the private placement would be fully utilised, the trust manager said.
MIT in October priced an upsized S$155.7 million placement of units at S$1.90 apiece to cover the rich end of price talk.The Reit had planned to issue at least S$125 million of units between S$1.83 and S$1.90 per unit, with an over-allotment option of at least S$25 million.
MIT closed at S$2.04 per unit on Dec 20, unchanged from the previous day close.

Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=ME8U.SI

 

[Jupiter2017]

https://www.theedgemarkets.com/arti...rust-posts-18-increase-3q-dpu-288-spore-cents

SINGAPORE (Jan 23): The manager of Mapletree Industrial Trust (MIT) has announced a distribution per unit (DPU) of 2.88 Singapore cents for the 3Q ended December, from 2.83 Singapore cents a year ago.
This includes an advanced distribution of 0.99 Singapore cent per unit for the period from Oct 1 to Nov 1, which was paid on Nov 28, 2017. The DPU for the enlarged units in issue for the remaining period from Nov 2 to Dec 31 was 1.89 Singapore cents per unit.
Gross revenue for 3Q17/18 rose 8.3% to S$91.5 million, from S$84.5 million a year ago...

price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=ME8U.SI

 

[assiak71]

Reits still can make it or not? Still several interest rate increases into next year

 

[carleon8]

Did anyone opt for the scrip distribution for this round of dividend?

 

[Dividends Warrior]

https://www.reitsweek.com/2019/01/mapletree-industrial-trust-collaborates-with-equinix-to-expand-data-centre-footprint.html

https://www.businesstimes.com.sg/technology/equinix-will-invest-us853m-to-build-4th-data-centre-in-singapore?xtor=CS3-25

The 'moat' of Mapletree Fortress. Efficient Capital recycling/Asset rejuvenation among the Mapletree family.

- MLT sold old warehouse to MIT, then used the proceeds to acquire new asset.
- MIT refurbishes the old asset into a high-yielding data centre in collaboration with a quality strong tenant.

Win-Win result for both MLT & MIT
*Vested*

 

[lyndonmaxewell]

https://www.reitsweek.com/2019/01/mapletree-industrial-trust-collaborates-with-equinix-to-expand-data-centre-footprint.html

https://www.businesstimes.com.sg/technology/equinix-will-invest-us853m-to-build-4th-data-centre-in-singapore?xtor=CS3-25

The 'moat' of Mapletree Fortress. Efficient Capital recycling/Asset rejuvenation among the Mapletree family.

- MLT sold old warehouse to MIT, then used the proceeds to acquire new asset.
- MIT refurbishes the old asset into a high-yielding data centre in collaboration with a quality strong tenant.

Win-Win result for both MLT & MIT
*Vested*

Do you do subscription to reitsweek or any other paid publication which would be useful for AD hoc and periodic news updates?

 

[assiak71]

MIT's next drp may be worth participating if lower price than now?

 

[NewInvestor]

MIT's next drp may be worth participating if lower price than now?

Lots of people including me are waiting to add this if the price comes down.

 

[assiak71]

Lots of people including me are waiting to add this if the price comes down.

Referring to the next drp, not open market price. If open market price come down then of course add too.

 

[assiak71]

Drp 1.9386 per Unit. All in?

 

[thisisnotme1212]

Drp 1.9386 per Unit. All in?

huats drp?

 

[assiak71]

huats drp?

http://www.mapletreeindustrialtrust.com/en/Newsroom/Latest-News.aspx

 

[serverxeon]

It's like scrip dividends

huats drp?

 

[czhmech]

DRP results in odd lots. Will I encounter any problems selling odd lots shares?

 

[appl888]

DRP results in odd lots. Will I encounter any problems selling odd lots shares?

Don’t get drp if you intend to sell

You can sell odds lots by asking your broker to sell for you

Or sell thru poems unit shares
The spread is quite big

 

[assiak71]

DRP results in odd lots. Will I encounter any problems selling odd lots shares?

You can indicate an amount that results in full lot. See the way to calculate carefully on the 2nd page

 

[Squaredot]

MIT's next drp may be worth participating if lower price than now?

your chance to buy at low price is here. R u gg to action?