Paragon Reit formerly SPH Reit *Official* (SGX:SK6U)

Paul Lee

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From the prospectus: SPH REIT’s First Distribution after the Listing Date will be for the period from the Listing Date to 30 November 2013 and will be paid by the Manager on or before 27 February 2014.
 

Bedokian

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With Waterway Point and the reopening of Compass One, the "area of influence" of Seletar Mall is somewhat reduced. It would probably still serve the Fernvale/Seletar Hills residents and maybe some spillover from the Seletar Aerospace Park. It would still be yield accretive if it is included in SPH REIT in the near and mid term.

SPH REIT's current 2 properties are by far its strengths. Paragon is a shopping mall/office building/medical suites with patronage from medical tourists and luxury goods shoppers, while Clementi is the "go to" place for Clementi residents, therefore capturing the gap between Star Vista at Buona Vista and the hub of shopping centres at Jurong East.

IMO this is still a good REIT to keep and nurture, but at the moment it is trading above its NAV.

Caveat emptor, vested.
 
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