29-07-2013, 12:01 AM
How to buy its closed end fund?
29-07-2013, 12:01 AM
How to buy its closed end fund?
29-07-2013, 11:22 PM
ARA has been ranked No: 33 by PERE among private equity real estate GPs
http://www.perenews.com/resources/PERE%2...PERE50.pdf (vested)
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.
30-07-2013, 11:24 AM
ARA is one of Macquarie's recent mid-cap top picks. Macquarie has a target price of $2.12.
30-07-2013, 11:36 AM
1) Fortune REIT has issued a trading halt. If this relates to M&A, it will be earning accretive to ARA this year in the form of recurring management (base and property) and one off acquisition fees.
2) Some details on their Australia venture: Quote:Initial public offerings of Australian property trusts are back in vogue, with two management teams currently meeting institutional investors in Asia ahead of planned September listings. Source: http://blogs.wsj.com/moneybeat/2013/07/2...-ipo-buzz/ 3) Klang Parade, a mall purchased by ADF in 2012 has undergone refurbishment. Source: http://www.thesundaily.my/news/783839 (Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
30-07-2013, 12:56 PM
Detail for Fortune Reit's trading halt is out.
http://infopub.sgx.com/Apps?A=COW_Corpor...y&F=884303 Proposed acquisition of mall from Cheung Kong at HK 5,849 mil. Correct me if I am wrong. Just a quick calculation, should this be approved, ARA stands to make a 1% acquisition fee amounting to HK 58.49 mil or approx. SGD 9.5 mil.
Wow what kinda mall is that cost almost one billion singdollars.
31-07-2013, 01:17 AM
Acquisition Price: HK$5,849 million
Annualized 1H 2013 NPI: HK$220.8 million As the Manager of Fortune REIT, assuming the transaction is completed, ARA will stand to gain HK$58.49 million one off acquisition fees which works out to S$9.5 million. Moreover, it earns 0.3% of AUM as base fees and 3% of NPI as performance fees so this works out to HK$24 million recurring income (S$3.9 million) on an annualized basis. (Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
31-07-2013, 09:14 AM
Net property income yield based on respective acquisition prices:
Fortune reit Kingswood Ginza: 3.8% Tenure: could not find in the document but think HK malls typically 30-40 years leasehold SPH reit Paragon: 4.8% Tenure: 99 years leasehold Clementi mall: 5.4% (with income support), 4.6% (without income support) Tenure: 96 years leasehold Other S'pore mall reits Valuation capitalisation rates: typically 5-5.75% SPH should have listed it's reit in the HKSE
31-07-2013, 10:56 AM
(This post was last modified: 31-07-2013, 11:24 AM by Contrarian.)
(31-07-2013, 01:17 AM)Nick Wrote: Acquisition Price: HK$5,849 million Maybe higher with asset enhancement and revision of rentals. Dunno condition and profile of tenants in this mall. Alpha Investment Partners on number 30, is part of Keppel Land. Hopefully another rating of REIT managers including public listed REITs and private funds. (29-07-2013, 11:22 PM)Boon Wrote: ARA has been ranked No: 33 by PERE among private equity real estate GPs
31-07-2013, 11:39 AM
(31-07-2013, 09:14 AM)swakoo Wrote: Net property income yield based on respective acquisition prices: if I am not wrong, Hong Kong properties normally have provision for lease til 2049, the year "One China, two systems" ceases to effect. |
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