Singapore Reits Strengthen Financial Positions as Year-End Approaches

Elite Commercial Reit: Preferential Offering to Optimize Gearing
$EliteComREIT GBP(MXNU.SG)$
Elite Commercial Reit recently announced a £28 million fully underwritten preferential offering, backed by its sponsor and substantial unitholders. Priced at £0.27 per unit, the offering aims to reduce gearing from 49.6% to 43.5%, providing the Reit with enhanced debt headroom and a larger market capitalization.

Cromwell European Reit: Bond Buyback to Mitigate Refinancing Risk
$Cromwell Reit EUR(CWBU.SG)$
Cromwell European Reit disclosed a €50 million bond buyback, funded from recent divestment proceeds. This move, accounting for 10% of its bonds due in 2025, is designed to proactively reduce refinancing risk and mitigate the impact of rising interest rates on distribution per unit.

CapitaLand Ascendas Reit: Asset Divestment in Australia for Portfolio Optimization
$CapLand Ascendas REIT(A17U.SG)$
CapitaLand Ascendas Reit has announced the divestment of three properties in Queensland, Australia, at a premium to their valuation. This strategic move aligns with the Reit's portfolio optimization strategy, aiming to improve portfolio quality and maximize returns for unitholders.

CapitaLand Ascott Trust: Japan Hotel Divestment for Portfolio Reconstitution
$CapLand Ascott T(HMN.SG)$
CapitaLand Ascott Trust is divesting three hotels in Japan for JPY 10.7 billion, part of its ongoing portfolio reconstitution strategy. This move allows the trust to unlock property value and redeploy capital into assets or initiatives generating stronger yields.

IReit Global: Spain Property Divestment to Reduce Debt
$IREIT Global SGD(UD1U.SG)$
IReit Global is divesting Il?lumina property in Spain for €24.5 million, marking a 5.2% premium over its independent valuation. The net proceeds of €9 million will be utilized to reduce debt and explore potential capital expenditures, acquisitions, and asset enhancements.