05-08-2013, 08:57 AM
(05-08-2013, 08:54 AM)HitandRun Wrote: [ -> ]Eh... Greenrookie
The error in your Sabana report in the number of months lah.... Previous financial year for them was 14 or 15 months....
No wonder!! Thank you!
(05-08-2013, 08:54 AM)HitandRun Wrote: [ -> ]Eh... Greenrookie
The error in your Sabana report in the number of months lah.... Previous financial year for them was 14 or 15 months....
(23-08-2013, 07:44 PM)felixleong Wrote: [ -> ]The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) said it plans to buy a property located at 508 Chai Chee Lane, Singapore 469032 from Advanced Micro Devices (Singapore) Pte Ltd for $68.2 million.
The property is a seven‐storey light industrial building with two basement storeys, located at Chai Chee Lane, off Bedok North Road and Bedok North Avenue 1. Completed on 2 December 2002 with a built‐up gross floor area of about 327,574.70 square feet, the property is a JTC leasehold estate of 30 + 29 years tenure commencing from 16 April 2001. Land area of the site is around 113,689.50 square feet, with a remaining tenure of 46.5 years.
The price comprises $59.5 million for the property as well as $7.7 million upfront land premium payable to JTC for the balance of the first term (about 17.5 years) on JTC's approval and other costs.
If the acquisition follows through, both parties will enter into a lease agreement in which Advanced Micro Devices will lease back at least 50% of the total rentable area of the property.
(23-08-2013, 10:19 PM)cfa Wrote: [ -> ]The manager seems to be keen to expand its AUM to make more management fees and acquisition fees.
They promised to its unit holders the leverage will be kept below 40% ?
Many industrial buildings are being built and many are moving to Iskandar and they are still buying Ind. properties at this time ?
(23-08-2013, 09:52 PM)Greenrookie Wrote: [ -> ](23-08-2013, 07:44 PM)felixleong Wrote: [ -> ]The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) said it plans to buy a property located at 508 Chai Chee Lane, Singapore 469032 from Advanced Micro Devices (Singapore) Pte Ltd for $68.2 million.
The property is a seven‐storey light industrial building with two basement storeys, located at Chai Chee Lane, off Bedok North Road and Bedok North Avenue 1. Completed on 2 December 2002 with a built‐up gross floor area of about 327,574.70 square feet, the property is a JTC leasehold estate of 30 + 29 years tenure commencing from 16 April 2001. Land area of the site is around 113,689.50 square feet, with a remaining tenure of 46.5 years.
The price comprises $59.5 million for the property as well as $7.7 million upfront land premium payable to JTC for the balance of the first term (about 17.5 years) on JTC's approval and other costs.
If the acquisition follows through, both parties will enter into a lease agreement in which Advanced Micro Devices will lease back at least 50% of the total rentable area of the property.
Cool...This will be sabana 2nd largest property with NLA of 290,000ft(from AMD website)
A quick calculation:
GIven AMD manufacturing business, I consider it a high tech industry, but lets use the $25psf (av. for sabana high tech proerties is $27), and general industry av. of $15
Assume its not a triple net lease, Since they mentioned about third parties, and AMD leasing at least 50%, using a margin 0.85, will yield a NPI of 3.6 million to 6.1 million, and that will be 4.5% to 7.7% of existing NPI, DPU will increase, AFter subtracting other costs, by $0.004 to $0.0071 in a year.
YIeld of purchase (not accounting for performance fees, and other costs) will be between 5.2% to 9%, quite prudent and value for money if you ask me.
Assume, they use some cash and take 60 million loan, gearing will then increase to about 40.4%, hmm... thought they say they will not break the 40%?