- Mapletree Pan Asia Commercial Trust announced divestment of Mapletree Anson for S$775m to a third party at a slight premium to book and exit NPI yield of 3.8%.
Regaining financial flexibility
- - Read this at SGinvestors.io -
- Further recycling of non-core assets should boost the investment case.
Transaction details
- Mapletree Anson is a CBD fringe office with 82 years of remaining land lease. The divestment consideration of S$775m is at a 1.3% premium to the last independent valuation of S$765m and 14% above the purchase price of S$680m. The property has 100% committed occupancy.
- - Read this at SGinvestors.io -
- The transaction price equates to S$2,352 psf of NLA, which is 19% below the sale of adjoining building Twenty Anson in Apr 2022.
Financial & strategic merits of the deal
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Krishna Guha Maybank Research | https://www.maybank-ke.com.sg/ 2024-06-03
Read also Maybank's most recent report:
2024-10-28 Mapletree Pan Asia Commercial Trust - Tempered Optimism; Challenging Operating Environment.
Previous report by Maybank:
2024-08-05 Mapletree Pan Asia Commercial Trust - Driving Resilience; 1QFY25 In Line.
Price targets by 3 other brokers at Mapletree Pan Asia Commercial Trust Target Prices.
Listing of research reports at Mapletree Pan Asia Commercial Trust Analyst Reports.
Relevant links:
Mapletree Pan Asia Commercial Trust Share Price History,
Mapletree Pan Asia Commercial Trust Announcements,
Mapletree Pan Asia Commercial Trust Dividends & Corporate Actions,
Mapletree Pan Asia Commercial Trust News Articles
