Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

Research from SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

Vietnam Real estate / Thematic (Sector/Industry)

<h2>Singapore</h2><h3><a href="https://www.smartkarma.com/entities/keppel-dc-reit" target="_blank" data-smartkarma-citation="entities:85" rel="noopener">Keppel DC REIT (KDCREIT SP)</a> acquires third Data Centre in the Netherlands</h3><ul><li>KDCREIT has acquired a 100% interest in a freehold property with two data centre buildings in De Hurk, which is the largest business park in Eindhoven, the Netherlands, for EUR37.2m (~S$59.9m) from a fund affiliated with MCAP Global Finance (UK) LLP, the European subsidiary of Marathon Asset Management. The property, which is located at Dillenburgstraat 25A-25E, 25E1, 25F, 25G and 25J-25M, 5652 AM, will be named Eindhoven Campus. It is KDCREIT’s third asset in the Netherlands, and further strengthens its foothold in this key data centre market in Europe</li><li>Strategically located close to Eindhoven’s city centre and international airport, the property is well connected to the Netherland’s motorway network. Comprising two shell and core data centre buildings as well as a warehouse and an ancillary office building within the site, Eindhoven Campus has a combined NLA of approximately 83,841sqft and is fully leased with a WALE of 6.8 years by NLA and 8.5 years by GRI</li><li>Based on the independent valuation dated 7Jul21, the market value of the property was €35.4m (~S$57.1m). The acquisition is expected to be accretive to KDCREIT's DPU, and is funded by the proceeds from the recent equity fund raising and by debt denominated in EUR</li><li>Including the strategic addition of Eindhoven Campus, KDCREIT’s portfolio occupancy rate will improve from 98.0% as at 30Jun21 to 98.1%, while WALE will remain unchanged at 6.5 years.</li></ul>

SingaporeKeppel DC REIT (KDCREIT SP) acquires third Data Centre in the NetherlandsKDCREIT has acquired a 100% interest in a freehold property with two data centre buildings in De Hurk, which is the largest business park in Eindhoven, the Netherlands, for EUR37.2m (~S$59.9m) from a fund affiliated with MCAP Global Finance (UK) LLP, the European subsidiary of Marathon Asset Management. The property, which is located at Dillenburgstraat 25A-25E, 25E1, 25F, 25G and 25J-25M, 5652 AM, will be named Eindhoven Campus. It is KDCREIT’s third asset in the Netherlands, and further strengthens its foothold in this key data centre market in EuropeStrategically located close to Eindhoven’s city centre and international airport, the property is well connected to the Netherland’s motorway network. Comprising two shell and core data centre buildings as well as a warehouse and an ancillary office building within the site, Eindhoven Campus has a combined NLA of approximately 83,841sqft and is fully leased with a WALE of 6.8 years by NLA and 8.5 years by GRIBased on the independent valuation dated 7Jul21, the market value of the property was €35.4m (~S$57.1m). The acquisition is expected to be accretive to KDCREIT's DPU, and is funded by the proceeds from the recent equity fund raising and by debt denominated in EURIncluding the strategic addition of Eindhoven Campus, KDCREIT’s portfolio occupancy rate will improve from 98.0% as at 30Jun21 to 98.1%, while WALE will remain unchanged at 6.5 years.

ASEAN Builder's Scoop (6Sep21)