Shares & Derivatives
AIMS APAC REIT – Asset repositioning gives it the edge
By Beansprout  •  October 16, 2024
AIMS APAC REIT (AA REIT) owns 28 industrial properties in Singapore and Australia, Initiate coverage of AIMS APAC REIT (AA REIT) with a BUY rating AA REIT owns 28 industrial properties in Singapore and Australia, of total lettable area of 0.78m sqm valued at S$2.2 billion. Singapore contributes 75% of gross rental income, with logistics and warehouses making up 48%. Sole sponsor, AIMS Financial Group (AFG), an Australian diversified financial services and investment group, owns 100% of the REIT manager, AIMS APAC REIT Management Ltd and 9.1% stake in AA REIT. ESR Group has a shareholding of 12.8%. Source: Company data Near full occupancy and strong rental reversions The assets enjoy near full occupancy of 97.3% in 1Q25. Rental reversion was +12.8% (FY24: +24.3%), fuelled by +26.8% for logistics and warehouse assets. We expect growth to moderate to +9% in FY25E, as leases signed at low rates during Covid fade off, and impending 4.4m sqm upcoming supply of industrial space in Singapore. Growth would be driven by 1) refurbishment at 7 Clementi Loop...
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By Beansprout
Hi, I’m Gerald! I have been working in investment analysis for more than 12 years. Often, I encounter everyday investors who find it difficult to invest. At Beansprout, we believe that with the right tools and knowledge, everyone can be an investor. Hence, we founded Beansprout to make quality investment insights more accessible. We hope that you can join us on this journey to grow your financial knowledge and confidence as an investor.
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