Link REIT’s Disposal at a Better-Than-Expected Price
Link REIT has disposed of a portfolio of assets to a real estate fund for HKD 23 billion. The disposal price was more than 50% above the book value, which was based on the latest valuation in September 2017. The sale price exceeded our expectations. To account for the impact of the disposal, we lower our earnings estimate for fiscal 2019 and beyond, owing to the loss of rental income. We assume a portion of the proceeds will be deployed for unit buyback, neutralizing the impact on distribution p...Link Real Estate Investment Trust is a collective investment scheme constituted as a unit trust that invests primarily in retail and carpark operations.
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