IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Takara Leben Real Estate Investment Corp / Equity Capital Markets

<p>Takara Leben REIT (TLR) unveiled plans to raise up to JPY14.7 billion ($140 million) through a public offering of 117,000 units. TLR, which is listed in July 2018, is a diversified J-REIT with a portfolio of office, residential, hotel, retail and other properties.</p><div class="content-highlight"><p>The proceeds from the placement will be used to will partly fund the JPY22.3 billion ($211 million) acquisitions of six properties. Overall, we believe that TLR has paid a full price and would be tempted to participate in the placement at around 10% discount to the last close price.</p></div>

Takara Leben REIT (TLR) unveiled plans to raise up to JPY14.7 billion ($140 million) through a public offering of 117,000 units. TLR, which is listed in July 2018, is a diversified J-REIT with a portfolio of office, residential, hotel, retail and other properties.The proceeds from the placement will be used to will partly fund the JPY22.3 billion ($211 million) acquisitions of six properties. Overall, we believe that TLR has paid a full price and would be tempted to participate in the placement at around 10% discount to the last close price.

Takara Leben REIT Placement: Fully Priced Acquisitions

Japan

MORI TRUST Hotel Reit, Inc. is a real estate investment trust (REIT) which mainly invests in Hotels and related facilities.

MIRAI Corporation operates as a real estate investment trust. The Company invests in office and commercial buildings and hotels. MIRAI serves customers in Japan.

Advance Logistics Investment Corporation offers investment management services. The Company provides asset custody, money cashier management, investment consulting, and other services. Advance Logistics Investment also operates land management, infrastructure construction, tourism development, and other businesses.

Hankyu Hanshin REIT, Inc. is a real estate investment trust (REIT). The Company invests in real estate properties such as commercial and office buildings.

CRE Logistics REIT, Inc. is a real estate investment trust (REIT) that invests in real estate properties used for logistics facilities.

Global One Real Estate Investment Corp., Ltd. is a real estate investment trust (REIT) that invests in income producing properties.  The Company mainly invests in office buildings in metropolitan, Chubu, and Kinki areas.

Global One Real Estate Investment Corp (8958 JP)

Tosei Reit Investment Corporation is a real estate investment trust(REIT). The Company mainly invests in office buildings and commercial facilities in Tokyo area.

Starts Proceed Investment Corp is a real estate investment trust (J-REIT) which invests in securitized real estate products.  The Company invests in lease real estate properties, short-term leasing apartments, and special feature business hotel.

Starts Proceed Investment Corporation (8979 JP)

ESCON JAPAN REIT Investment Corporation provides real estate investment services. The Company offers real estate leasing, real estate investment, and other services. ESCON JAPAN REIT Investment serves customers in Japan.

ICHIGO HOTEL REIT INVESTMENT CORP. is a specialized hotel J-REIT, established with the mission of leveraging Ichigo Group's deep value-add expertise and management know-how.

YTL Hospitality REIT invests in real estate and real estate related assets. The Company focuses its real estate portfolio on hotel and hospitality related properties in Malaysia, Japan, and Australia.

One Liberty Properties, Inc. is an equity real estate investment trust which invests primarily in improved, commercial real estate under long-term net lease. The Company's investment objectives are to provide current income, to provide the opportunity for increases in income and capital appreciation and to protect the Company's capital.

Rural Funds Group is a real estate property trust which owns Australian agricultural assets.

CTO Realty Growth, Inc. operates as a real estate investment trust. The Company invests in income producing properties to generate predictable cash flows and having a diversified portfolio of income properties. CTO Realty Growth serves customers in the United States.

Hotel Property Investments owns a portfolio of properties.  The Company's properties consist of pubs, detached bottle shops and other on-site specialty stores, which are used to generate capital returns for its security holders. Hotel Property Investment's properties are located throughout Queensland and South Australia.

Argosy Property Limited invests in and manages retail, commercial and industrial properties in New Zealand.

Vastned Retail NV invests in premium shopping real estate. The Company focuses on popular streets in large European cities, owning venues in shopping malls and store fronts. Vastned rents to international and national retail chains in fashion, home and interior, personal care and food.

Wereldhave Belgium NV owns and operates offices, shopping centres, industrial properties, and residential properties.  Investments are located in various locations in Belgium. Wereldhave Belgium's parent company is the Dutch group Wereldhave N.V., which has offices in The Hague, London, Madrid, New York, and Paris.

Custodian REIT plc is a real estate investment trust. The Company invests in commercial properties, including industrial, retail and office properties throughout the United Kingdom.

Is Gayrimenkul Yatirim Ortakligi AS is a real estate investment company.  The Company usually acquires land by offering the owner a certain amount of space for the building it intends to develop. Is Gayrimenkul finances its projects by selling or renting the remaining space during the early stages of construction. The Company's portfolio includes shopping centers and office buildings.

Takara Leben Real Estate Investment Corp operates as a real estate investment trust. The Company invests and manages offices, houses, hotels, and commercial facilities. Takara Leben Real Estate Investment offers services in Japan.

Takara Leben Real Estate Investment Corp (3492 JP)

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Takara Leben REIT Placement: Fully Priced Acquisitions

Takara Leben REIT (TLR) unveiled plans to raise up to JPY14.7 billion ($140 million) through a public offering of 117,000 units. TLR, which is...

Arun George