Mapletree Commercial Trust Placement - Quality Asset with Google as Major Tenant

Mapletree Commercial Trust Placement - No Delay, No Surprise. A Good Addition to the Portfolio

Singapore Property Analyst

Anni Kum

Equity Bottom-Up

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

Mapletree Pan Asia Commercial Trust (MCT SP)

<a href="https://www.smartkarma.com/entities/mapletree-commercial-trust" target="_blank" data-smartkarma-citation="entities:106:1" rel="noopener">Mapletree Commercial Trust (MCT SP)</a> announced this morning that it will be acquiring Mapletree Business City ("MBC") Phase 2 from its sponsor - Mapletree Investments, for an agreed property value of S$1,550 mil.The agreed property value of S$1,550 mil reflects a rate of S$1,308 psf on NLA. It is also 0.12% and 0.64% below the independent valuations done by Savills and CBRE respectively.In terms of DPU yield, MCT’s DPU yield of 4.0% is the lowest among S-REITs and making it among the most expensive S-REIT in Singapore. Investors are already forward-pricing the organic and acquisition growth into its current unit price.

Mapletree Commercial Trust (MCT SP) announced this morning that it will be acquiring Mapletree Business City ("MBC") Phase 2 from its sponsor - Mapletree Investments, for an agreed property value of S$1,550 mil.The agreed property value of S$1,550 mil reflects a rate of S$1,308 psf on NLA. It is also 0.12% and 0.64% below the independent valuations done by Savills and CBRE respectively.In terms of DPU yield, MCT’s DPU yield of 4.0% is the lowest among S-REITs and making it among the most expensive S-REIT in Singapore. Investors are already forward-pricing the organic and acquisition growth into its current unit price.

Mapletree Commercial Trust (MCT SP): Still Expensive Despite Good Deal for MBC Phase 2