If you’ve a keen interest in REITs, check out:
Another REITs with properties in Europe – CROMWELL European Real Estate Investment Trust (Cereit) will be listed in Singapore Stock Exchange subject to all conditions to be met.
Let see what type of properties will be included in this Cereit. Could it be another office REIT, Industrial REIT, Student Accommodation, Healthcare, Retail Malls or Hybrid? Very excited and can’t wait to see the Cereit IPO prospectus.
iREIT Global is another European REITs which focus on office properties.
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CROMWELL European Real Estate Investment Trust (Cereit), a Singapore Reit with portfolio of assets in Europe, has received an Eligibility-to-List (ETL) nod from the Singapore Exchange for its estimated one billion euros (S$1.6 billion) initial public offering (IPO).
The IPO could take place at the end of September, if all conditions are met, said the Reit’s sponsor Cromwell Property Group in a statement on Thursday.
The ETL was issued on Wednesday to the company while Cereit’s manager – Cromwell EREIT Management – received a Capital Markets Services Licence from the Monetary Authority of Singapore on Aug 17.
“The IPO reflects Cromwell’s stated strategy of diversifying capital sources and achieving recurring revenues from its funds management business,” said Cromwell.
Assuming a successful IPO, and subject to final allocations, Cromwell said that it plans to hold a sponsor stake of some 10 per cent in Cereit, which has been fully funded.
Cereit’s IPO will be subject to market conditions, obtaining relevant regulatory and other approvals and the execution of definitive agreements by relevant parties.
See the sponsor Cromwell corporate’s info here. https://www.cromwell.com.au/
I was invited InvestingNote to give a market update on on Singapore REITs to a group of retail investors yesterday at CIMB Securities.
InvestingNote is The #1 Social Media Platform Used By Stock Investors In Singapore. You can follow my blog post update there. My ID is marubozu in InvestingNote community.
Key Summary
Global Economy is recovering. Global PMI is in expansion mode, from recovery to cruising speed. The stock market is still supported by strong economy fundamental. In my personal view, a market correction is more likely than a market crash (due to the 10 years market cycle).
The forecasted US interest rate will stay at 1.25% at the end of 2017.
However, FTSE ST REIT index has already priced in 3 hikes to 1.5% by end of this year. Thus, there should be no impact if the US Fed raises the interest rate to 1.5%.
FTSE ST REIT Index is still trading in a bullish uptrend channel but facing resistance at 820.
Overall simple average yield for Singapore REIT is 6.48% and still very attractive compare to other income assets in Singapore.
Other slides can be found at below links:
Singapore REIT Price/NAV Range Chart
Summary for Singapore REITs 2H2017 Market Outlook
Check below on other events:
https://mystocksinvesting.com/events/