CCT Enhances Portfolio Quality with Asia Square Tower 2 Acquisition; Subscribe to Rights Issue
Narrow-moat CapitaLand Commercial Trust, or CCT, will acquire Asia Square Tower 2 in Marina Bay from BlackRock for SGD 2.094 billion, or SGD 2,689 per square foot. The transaction represents a pro forma capitalisation rate of 3.6% and is at a slight discount to comparable Grade A offices in the Marina Bay area and its last independent valuation of SGD 2.11 billion, or SGD 2,710 per square foot. The deal will be funded by SGD 1.12 billion of debt, SGD 340.1 million of cash from earlier divestment...CapitaCommercial Trust is a commercial real estate investment trust investing in properties predominantly used for commercial purposes. Through its subsidiary, Co. is engaged in the provision of treasury services, including lending to the Trust the proceeds from issuance of notes under an unsecured multicurrency medium term note program. As of Dec 31 2011, Co.'s portfolio comprised of nine properties including three office buildings, one prime office building, three mixed-use properties, one multi-story car park and an ongoing development for a new office tower, all of which are located in Singapore.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.