Lose steam liao. Sad.
Today the retail reits are all spooked by CICT's results
Lendlease REIT
- Thread starter o0KelviN0o
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Today the retail reits are all spooked by CICT's results
redorangeyellow
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Entered at 0.780. is it good?
terence2112
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It’s below the IPO price.
I will say wait.
reddevil0728
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The REIT management not Ang moh leh?
5408854088
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Lendlease Global Commercial REIT has announced a distribution per unit of 2.34 cents for 1HFY2021 ended Dec 30, versus 2.32 cents for the year earlier period.
LREIT holds two key assets: 313@Somerset mall in Singapore and Sky Complex office building in Italy.
Net property income was up 1.6% y-o-y to $30.4 million, while gross revenue was up 3.2% y-o-y to $41.6 million, as a stronger Euro helped translate rental income from Sky Complex into higher Singdollars. Improved operational efficiency at 313@Somerset, LREIT’s key asset, helped too.
https://www.theedgesingapore.com/ne...mercial-reit-announces-dpu-234-cents-1hfy2021
LREIT holds two key assets: 313@Somerset mall in Singapore and Sky Complex office building in Italy.
Net property income was up 1.6% y-o-y to $30.4 million, while gross revenue was up 3.2% y-o-y to $41.6 million, as a stronger Euro helped translate rental income from Sky Complex into higher Singdollars. Improved operational efficiency at 313@Somerset, LREIT’s key asset, helped too.
https://www.theedgesingapore.com/ne...mercial-reit-announces-dpu-234-cents-1hfy2021
reddevil0728
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Shion
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Brokers' take: Analysts positive on Lendlease Reit on expectations of domestic recovery
Brokers' take: Analysts positive on Lendlease Reit on expectations of domestic recovery
https://www.businesstimes.com.sg/co...on-lendlease-reit-on-expectations-of-domestic
ANALYSTS across three brokerages are positive on Lendlease Global Commercial Reit (LReit) on expectations of a domestic recovery amid Covid-19 vaccine rollouts.
Last Wednesday, LReit posted a higher H1 distribution per unit of 2.34 Singapore cents.
Both UOB Kay Hian and CGS-CIMB maintained a "buy" and "accelerate"call on the Reit respectively. UOBKH kept to the same target price of S$0.97, while CGS-CIMB raised its target price to S$0.86 on the back of higher domestic consumption post-Phase Three of Singapore's reopening.
In a report on Monday, UOBKH noted that LReit trades at a 7 per cent discount below net asset value per unit of S$0.85.
UOBKH analyst Jonathan Koh opined that 313@Somerset, owned by the Reit, will benefit from higher shopper traffic when its Grange Road event space is fully operational in H1 2022. He believes that the plug-and-play event space will serve to attract a larger crowd of youths and young professionals, especially given the mall's youth orientation and prime location on top of Somerset MRT.
Further, he foresees that LReit will benefit from redevelopment plans to transform Milano Santa Giulia, where Sky Complex is located, into Milan's key decentralised office district.
"LReit provides an attractive distribution yield of 6 per cent for FY21 and 6.1 per cent for FY22, representing a yield spread of 5 per cent and 5.1 per cent above Singapore's 10-year government bond yield of 1 per cent," he said.
CGS-CIMB analysts were similarly positive on the Reit as they expect vaccine rollouts and further relaxation of social-distancing measures to further accelerate tenant sales and footfall.
Though they foresee rental pressures in the short term, the analysts are optimistic that annual rental escalations at 313@Somerset, the long lease structure of Sky Complex, and the 44,200 square feet Grange Road redevelopment (expected to be operational in H1 2022) will push the Reit on a recovery trajectory.
Meanwhile, Phillip Capital also raised its target price on LReit to S$0.82 from S$0.78 previously, maintaining an "accumulate" call in its Monday report.
Although analyst Tan Jie Hui expects a slow rent recovery due to weak leasing, she believes that shopper confidence will recover on the back of more vaccines in the long term. She is also positive on the Reit's Milan property, noting that the lease at Sky Complex will expire only in 2032.
"Stable revenue contributions from Sky Complex are also expected to mitigate Covid-19 risks," Ms Tan added.
Units of LReit closed two cents, or 2.53 per cent, higher at 81 cents on Monday.
Brokers' take: Analysts positive on Lendlease Reit on expectations of domestic recovery
https://www.businesstimes.com.sg/co...on-lendlease-reit-on-expectations-of-domestic
ANALYSTS across three brokerages are positive on Lendlease Global Commercial Reit (LReit) on expectations of a domestic recovery amid Covid-19 vaccine rollouts.
Last Wednesday, LReit posted a higher H1 distribution per unit of 2.34 Singapore cents.
Both UOB Kay Hian and CGS-CIMB maintained a "buy" and "accelerate"call on the Reit respectively. UOBKH kept to the same target price of S$0.97, while CGS-CIMB raised its target price to S$0.86 on the back of higher domestic consumption post-Phase Three of Singapore's reopening.
In a report on Monday, UOBKH noted that LReit trades at a 7 per cent discount below net asset value per unit of S$0.85.
UOBKH analyst Jonathan Koh opined that 313@Somerset, owned by the Reit, will benefit from higher shopper traffic when its Grange Road event space is fully operational in H1 2022. He believes that the plug-and-play event space will serve to attract a larger crowd of youths and young professionals, especially given the mall's youth orientation and prime location on top of Somerset MRT.
Further, he foresees that LReit will benefit from redevelopment plans to transform Milano Santa Giulia, where Sky Complex is located, into Milan's key decentralised office district.
"LReit provides an attractive distribution yield of 6 per cent for FY21 and 6.1 per cent for FY22, representing a yield spread of 5 per cent and 5.1 per cent above Singapore's 10-year government bond yield of 1 per cent," he said.
CGS-CIMB analysts were similarly positive on the Reit as they expect vaccine rollouts and further relaxation of social-distancing measures to further accelerate tenant sales and footfall.
Though they foresee rental pressures in the short term, the analysts are optimistic that annual rental escalations at 313@Somerset, the long lease structure of Sky Complex, and the 44,200 square feet Grange Road redevelopment (expected to be operational in H1 2022) will push the Reit on a recovery trajectory.
Meanwhile, Phillip Capital also raised its target price on LReit to S$0.82 from S$0.78 previously, maintaining an "accumulate" call in its Monday report.
Although analyst Tan Jie Hui expects a slow rent recovery due to weak leasing, she believes that shopper confidence will recover on the back of more vaccines in the long term. She is also positive on the Reit's Milan property, noting that the lease at Sky Complex will expire only in 2032.
"Stable revenue contributions from Sky Complex are also expected to mitigate Covid-19 risks," Ms Tan added.
Units of LReit closed two cents, or 2.53 per cent, higher at 81 cents on Monday.
Shion
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LREIT appoints Lendlease Singapore as project manager for Grange Road car park redevelopment
LREIT appoints Lendlease Singapore as project manager for Grange Road car park redevelopment
https://www.theedgesingapore.com/ne...ct-manager-grange-road-car-park-redevelopment
The manager of Lendlease Global Commercial REIT (LREIT) has appointed Lendlease Singapore as the project manager for the redevelopment of the Grange Road car park site to provide project and construction management services.
The appointment was made through a project and construction management services agreement (PCMA) between LREIT’s trustee, RBC Investor Services, and Lendlease Singapore on Feb 18.
Lendlease Singapore is an indirect wholly-owned subsidiary of Lendlease Corporation, the sponsor of LREIT, making this an interested-person transaction.
Under the PCMA, Lendlease Singapore will provide the following services: project and design management services, contracts management, construction management, environmental, health and safety management, cost management and reporting.
Lendlease Singapore will be paid a fee comprising resource costs, preliminary costs and a project and construction management fee at 3% of the design and construction costs incurred for the project.
The works for the redevelopment are expected to be completed by the first half of 2022.
According to the manager, Lendlease Singapore was chosen to be the project manager due to its familiarity with Lendlease-managed properties and its proven track record.
Its fee is also competitive and comparable to what it would charge for similar projects, it adds.
Lendlease Singapore’s focus on safety and use of Global Minimum Requirements is aligned with LREIT’s aim to make safety a priority in such projects.
Following the execution of the PCMA, the total value of interested person transactions (IPTs) entered between the group and its sponsor comes in around $48 million, or 4.8% of the group’s latest audited net tangible assets (NTA).
Units in LREIT closed 1.5 cents lower or 1.9% down at 79.5 cents on Feb 18.
LREIT appoints Lendlease Singapore as project manager for Grange Road car park redevelopment
https://www.theedgesingapore.com/ne...ct-manager-grange-road-car-park-redevelopment
The manager of Lendlease Global Commercial REIT (LREIT) has appointed Lendlease Singapore as the project manager for the redevelopment of the Grange Road car park site to provide project and construction management services.
The appointment was made through a project and construction management services agreement (PCMA) between LREIT’s trustee, RBC Investor Services, and Lendlease Singapore on Feb 18.
Lendlease Singapore is an indirect wholly-owned subsidiary of Lendlease Corporation, the sponsor of LREIT, making this an interested-person transaction.
Under the PCMA, Lendlease Singapore will provide the following services: project and design management services, contracts management, construction management, environmental, health and safety management, cost management and reporting.
Lendlease Singapore will be paid a fee comprising resource costs, preliminary costs and a project and construction management fee at 3% of the design and construction costs incurred for the project.
The works for the redevelopment are expected to be completed by the first half of 2022.
According to the manager, Lendlease Singapore was chosen to be the project manager due to its familiarity with Lendlease-managed properties and its proven track record.
Its fee is also competitive and comparable to what it would charge for similar projects, it adds.
Lendlease Singapore’s focus on safety and use of Global Minimum Requirements is aligned with LREIT’s aim to make safety a priority in such projects.
Following the execution of the PCMA, the total value of interested person transactions (IPTs) entered between the group and its sponsor comes in around $48 million, or 4.8% of the group’s latest audited net tangible assets (NTA).
Units in LREIT closed 1.5 cents lower or 1.9% down at 79.5 cents on Feb 18.
Shion
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LREIT replaces property manager for Milan's Sky Complex
LREIT replaces property manager for Milan's Sky Complex
https://www.theedgesingapore.com/news/reits/lreit-replaces-property-manager-milans-sky-complex
The manager of Lendlease Global Commercial REIT (LREIT) says Lendlease Italy SGR S.p.A. (Lendlease SGR) has replaced Revalo S.p.A. as property manager of Sky Complex in Milan Italy.
Lendlease SGR has, on Feb 22, entered into a property management agreement with Prelios Integra S.p.A, a third party professional property manager, to take over management of the property.
Prelios Integra is the property management company of Prelios Group, acquired in 2018 by Davidson Kempner Management Ltd, a US Hedge Fund with more of US$30 billion ($39.7 billion) of assets under management (AUM).
It has 85 employees in Italy with offices in Rome and Milan. It manages more than 8 million of square metres of space (out of which approximately 1.6 million square metres is office space) and 3,400 properties.
Under the contract, Prelios Integra will be responsible for services including lease management, property administration and accounting management, budgeting and reporting.
The new manager is entitled to a set-up fee of 2,500 euros ($4,013.44) and a property management fee of 0.28% per annum of the annual collected rent of the Milan property, subject to a minimum sum of 20,000 euros.
The contract will last for three years from Feb 22, and may be terminated by either party with three months’ notice after a year.
The contract will be terminated automatically should the Milan property be sold to a third party.
Units in LREIT closed 0.5 cent lower or 0.6% down at 77.5 cents on Feb 23.
LREIT replaces property manager for Milan's Sky Complex
https://www.theedgesingapore.com/news/reits/lreit-replaces-property-manager-milans-sky-complex
The manager of Lendlease Global Commercial REIT (LREIT) says Lendlease Italy SGR S.p.A. (Lendlease SGR) has replaced Revalo S.p.A. as property manager of Sky Complex in Milan Italy.
Lendlease SGR has, on Feb 22, entered into a property management agreement with Prelios Integra S.p.A, a third party professional property manager, to take over management of the property.
Prelios Integra is the property management company of Prelios Group, acquired in 2018 by Davidson Kempner Management Ltd, a US Hedge Fund with more of US$30 billion ($39.7 billion) of assets under management (AUM).
It has 85 employees in Italy with offices in Rome and Milan. It manages more than 8 million of square metres of space (out of which approximately 1.6 million square metres is office space) and 3,400 properties.
Under the contract, Prelios Integra will be responsible for services including lease management, property administration and accounting management, budgeting and reporting.
The new manager is entitled to a set-up fee of 2,500 euros ($4,013.44) and a property management fee of 0.28% per annum of the annual collected rent of the Milan property, subject to a minimum sum of 20,000 euros.
The contract will last for three years from Feb 22, and may be terminated by either party with three months’ notice after a year.
The contract will be terminated automatically should the Milan property be sold to a third party.
Units in LREIT closed 0.5 cent lower or 0.6% down at 77.5 cents on Feb 23.
FreshFunds
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dividends are in!!! 
peppermint7
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Haha, patience lahJialart. We let mate hippo waited for so long.
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