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IREIT GLObal to acquire 17 properties in France!

https://investor.ireitglobal.com/newsroom/2...6O318H7SX.2.pdf


▪ FIT 2 SAS, a wholly-owned subsidiary of IREIT, has on 31 May 2023, entered into a call option agreement (“Call Option Agreement”)
with DKR Participations, a French société par actions simplifiée (“SAS”) managed by Tikehau Investment Management, for the
acquisition of 17 retail properties (the “New Properties”) located across France (the “Acquisition”)
▪ The New Properties are fully let to B&M France SAS (“B&M France”), a wholly-owned subsidiary of B&M European Value Retail (and
together with its subsidiaries,the “B&MGroup”) with a WALE of c.6.8 years (1) and WALB of c.4.6 years (1)
.
▪ B&M Group is a leading discount retailer in Europe listed on the London Stock Exchange since 2014. It is currently a constituent of
the FTSE100 index with a market capitalisation of c.£4.7 b
(2)
▪ The aggregate purchase consideration for the Acquisition (the “Purchase Consideration”) is €76.8 m (c. S$112.2 m) (3)
, c.1.7% below
the average ofthe two independent valuations (4) ofthe New Properties at €78.1 m (c. S$114.1 m) (3)
▪ Initial Net Property Income (“NPI”) Yield ofthe New Properties is c.7.9% (5)
▪ Acquisition is DPU accretive of c.2.0% on a pro forma adjusted FY2022 basis (6)
▪ Each of Tikehau Capital, City Strategic Equity Pte. Ltd. (“CSEPL”) (a wholly-owned subsidiary of City Developments Limited (“CDL”))
and the Manager (acting in its own capacity), has provided an undertaking to subscribe in full each of their pro-rata allotment in the
Preferential Offering. CSEPL has further undertaken to apply and subscribe for excess units in the Preferential Offering such that
the total subscriptions of CSEPL would amount to a maximum of approximately S$40 million of Preferential Offering Units (7)

This post has been edited by prophetjul: Jun 1 2023, 11:38 AM

EC World Update on financing.

As mentioned in the 1 June 2023 Announcement, the lenders of the Onshore Facility received
confirmation of completion of conditions precedent on 31 May 2023. Further to the foregoing, the
Manager wishes to update Unitholders that the Existing Onshore Bank Loans have been refinanced in
full.

https://ecwreit.listedcompany.com/newsroom/...D8RM0E613.1.pdf

IREIT Global’s preferential offering 134.7% subscribed;
raising S$75.9 million
• Strong support from all Unitholders including Joint Sponsors serves as a clear vote of
confidence for IREIT’s portfolio diversification
• Excluding subscription of excess units by City Strategic Equity Pte. Ltd.(1)
, preferential
offering was also oversubscribed
• Market capitalisation to increase by approximately 13.7% to S$640.7 million enhancing
the probability of inclusion in key equity indices and offering several benefits(2)
• Poised for future growth opportunities with aggregate leverage maintaining healthy post
transaction

https://investor.ireitglobal.com/newsroom/2...82PFHBLGU.1.pdf

Another Yankee Reit bites the dust.

Manager wants to charge fees for forced sale as a result of their incompetence.

KORE RESULTS

https://wpcms.kepcorp.com/wm/cms-site/kcl/f...-highlights.pdf

Capland China Results

https://links.sgx.com/FileOpen/3.%202023072...t&FileID=766628

AIMS AA Reit

https://links.sgx.com/FileOpen/AA%20REIT%20...t&FileID=766617


This post has been edited by prophetjul: Jul 27 2023, 09:37 AM

This Reit's performance seems to be degrading year after year!

Elite Com Reit H1 Results

https://investors.sgx.com/company-disclosur...1MT1Y4V4LLCANYT

REMOVED!

https://www.theedgesingapore.com/news/reit-...-remove-manager

Most Reits related business are in deep shite due to the Feds hiking of interest rates. Killed businesses, raise the cost of debt,etc.

Utd Hampshire 1H 2023 results

https://investors.sgx.com/company-disclosur...KFAFIPSLFWKJ6MB

Dead man walking company.

Another Dead man walking company.
That's 2 in Chinese based Reits now.

Yeah. Last dumped Feb 2022 at 75cents.

Might as well just liquidate everything and pay off loans and give back proceeds to shareholders since the stupid sponsor cannot even pay its rents!

WoW!
Dropping like dominos!

i had this EC World for quite some time. Good performance and dividends in early days.
Suddenly the sponsor, who is the main tenant cannot pay their rents?

WHAT GIVES?
Just liquidate the assets and give the money back to the shareholders. More value there!

Higher interest rates?
SG banks are not spared.