Continued Capital Recycling, but Fewer Opportunities Ahead
Link REIT announced the acquisition of Jingtong Roosevelt Plaza, a retail mall in Beijing, for CNY 2.6 billion, including the accounting for the mortgage. This is the company’s fourth acquisition in China. The mall has total retail gross floor area of 67,500 square meters as well as 400 car parking spaces. The gross rental yield is 4.8%, based on a passing rent of CNY 10.26 million as of October. The net property income yield based on 2017 results was only 2.95%. We believe the acquisition is on...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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