MIT is the second industrial REIT I owned. It is not small per se, it is a REIT with strong parentage and 84 buildings.
But compared it with A-REIT, it is easier to have visible growth drivers that will add to NPI.
There is a new one after HP BTS. An AEI at kallang
Taken with HP phase 1 and 2, which is fully committed. You have staggered increase till 2018.
Each project will add about 400k sft of space. When HP takes up all the space in 1H2017, it will add about 2.2 mio per quarter. I use an conservative $2 per month per sq ft rent for high tech building in my calculation
There is no pre-committment for Kallang AEI.
But, I would think these 2 growth drivers will provide some buffer in interest rate hike.
2.2 mio per quarter is 30% of its interest cost, ......