ESR-LOGOS REIT - Maybank Research 2023-06-27: Execution On Divestments; One Step Closer

• ESR-LOGOS REIT (SGX:J91U) divested 7 non-core assets at a valuation of S$337m, representing a 4.5% discount to book value. We see the divestment as the first concrete step in its capital recycling plan, following its S$300m EFR (equity fund raising) completed in April.
• - Read this at SGinvestors.io -

Deal at a discount and NPI support

• The portfolio of 4 logistics and 1 industrial asset was acquired by Intertrust Group, an Amsterdam-based trust management company. According to the manager, ESR-LOGOS REIT will provide NPI support of S$4.8m to Intertrust across 36 months. Without NPI support, the portfolio was valued lower at S$325.4m.
• - Read this at SGinvestors.io -
• The other two smaller assets were sold at a premium to two separate parties.
  • Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-02-02 ESR-REIT - Distribution, NAV Slips But Earnings Quality Improves.

Previous report by Maybank:
2024-11-07 ESR-LOGOS REIT - Stable Operations; Maintain BUY.

Price targets by other brokers at ESR-LOGOS REIT Target Prices.

Listing of research reports at ESR-LOGOS REIT Analyst Reports.

Relevant links:
ESR-LOGOS REIT Share Price History,
ESR-LOGOS REIT Announcements,
ESR-LOGOS REIT Dividend Payout Dates & Corporate Actions,
ESR-LOGOS REIT News