Suntec REIT Acquires 21 Harris Street in Pyrmont, Sydney; FVE Raised to SGD 1.82
Suntec Real Estate Investment Trust’s, or Suntec REIT’s, first-quarter 2019 results were largely in line with our expectations. After factoring in slightly lower contribution from its Australian properties due to the weakening of the Australian dollar and the relocation of UBS from One Raffles Quay and Suntec City Offices to 9 Penang Road in 2020, we lowered our fair value estimate marginally to SGD 1.74 per unit from SGD 1.76. The trust has secured UBS as its anchor tenant for 9 Penang Road, wh...Suntec Real Estate Investment Trust is a Singapore-domiciled unit trust that invests in income producing real estate and real estate related assets, which are used for commercial purposes. Co. is managed by an external manager, ARA Trust Management (Suntec) Limited. Co.'s subsidiaries include Comina Investment Limited and Suntec Harmony Pte. Ltd.
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