Forterra Trust (formerly: Treasury China Trust)

[Boon]

Interestingly, here are some of the implied Cap Rate used by other Reits in the valuation of their China properties

Hui Xian (Reit) : (HX)
Office & Retail portion only (Beijing)
From page 122 & 123 of AR2013:
Gross Revenue = 959 + 785 = RMB 1,744 m per annum
CV= Carrying Value = 15,550 + 14,566 = RMB 30,116
Implied Cap Rate = 1,744 / 30,116 = 5.8% (Gross)

MGCCT (Mapletree Greater China Commercial Trust)
Property : Gateway Plaza, Beijing (Office/Retail)
From page 68 of AR2013:
Implied Cap Rate = 6.5% (Gross)

CRCT :
Retail properties across China including Shanghai
From AR2013:
Gross Revenue = SGD 160 m per annum
CV = SGD 2,057 m
Implied Cap Rate = 160 / 2,057 = 7.8% (Gross)

(vested)