In today’s briefing:
- Lendlease Global Offering to Buy the Rest of JEM – Big Deal, Cheap, Cheaper Than Peers
Lendlease Global Offering to Buy the Rest of JEM – Big Deal, Cheap, Cheaper Than Peers
- In mid-February, Lendlease Global Commercial REIT (LREIT SP) which owned 31.8% of the Jurong East MRT Station “Jem” complex announced it would buy the rest.
- They announced they would issue new equity to pay for some of it. Predictably, the units fell, and fell vs Office/Retail Mixed-Use SREIT peers.
- Now you can buy units of Singapore asset quality, acceptable leverage, high divi and something well cheap of peer-measured fair.
Before it’s here, it’s on Smartkarma
