Manulife US REIT Singapore IPO
- Type = Commercial (Office)
- Sponsor = Manulife (9.5% stake)
- Market Capitalization = $490 Million
- Portfolio = 3 Grade A Commercial Property @ Washington DC (19% NAV), Los Angeles (38% NAV ) and Irvine (43% NAV)
- Price / NAV = between 1.1 to 1.2
- Distribution Yield = 5.5% to 5.9%
- WALE = 5.1 Years
- Occupancy Rate = 97.7%
- Top 10 Tenants = 58% of income
- Gearing Ratio = 37.6%
- WADB = 10.3 Years
- Cost of Capital = 3.75%
- Plan Listing: July 15, 2015
Is it a good REIT to subscribe? Is the yield attractive with the IPO share price? How to analyse the fundamental of this Manulife US REIT to see whether it is a good long term investment? What are the risks? Check out the coming Singapore REIT Public Workshop here.
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