Champion REIT's FVE Lifted to HKD 4.60 to Include Potential Langham Place Office Divestment
We increase our fair value for Champion REIT to HKD 4.60 from HKD 4, as we are now more optimistic that the trust can divest the office component of Langham Place, which was put on market for sale in July 2017. While the Chinese government has tightened capital outflows and Chinese corporates from aggressively acquiring offshore assets, several office properties were recently transacted with Chinese buyers. More importantly, the transactions occurred at a favourable capitalisation rate. Narrow-m...Champion Real Estate Investment Trust and its subsidiaries are engaged in owning and investing in income-producing commercial properties in Hong Kong with the objective of producing stable and sustainable distributions to unitholders and to achieve long term growth in the net asset value per unit.
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