REAL ESTATE INVESTMENT TRUSTS – AUSTRALIA

Retail A-REIT rejig mix to safeguard earnings

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 38 : 3-Sep-15

Earnings growth was driven by specialty tenants such as cinemas, fashion and food, according to listed retail property trusts. Fund managers predicted further attention to the tenant mix in malls to enhance portfolio quality. Attracting global brands also remained a focus.

CORPORATES
CHARTER HALL RETAIL REIT – ASX CQR, FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP, SCENTRE GROUP – ASX SCG, ALDI STORES SUPERMARKETS PTY LTD, COLES GROUP LIMITED, WOOLWORTHS LIMITED – ASX WOW, SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP – ASX SCP, WESTFIELD CORPORATION – ASX WFD, BWP TRUST – ASX BWP, BUNNINGS GROUP LIMITED

Mall owners plan $8b of work to drive better returns

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 2-Sep-15

CBRE estimates that the Australian-listed real estate investment trusts will invest $A8 billion in redevelopment and extension of regional shopping centres and central business district retail outlets in the next five years. Redevelopments at Pacific Fair on the Gold Coast, Chadstone in Victoria and the Castle Towers shopping centre in New South Wales are particularly significant.

CORPORATES
CBRE PTY LTD, AMP CAPITAL INVESTORS LIMITED, SCENTRE GROUP – ASX SCG, GANDEL GROUP HOLDINGS LIMITED, FEDERATION CENTRES – ASX FDC, QIC LIMITED

Charter Hall to raise $55m for Automotive

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Original article by Matthew Cranston
The Australian Financial Review – Page: 43 : 20-Aug-15

Charter Hall is setting up a new unlisted retail property trust. The Charter Hall Direct Automotive Trust will hold $A102 million worth of properties which are to be acquired from the Automotive Holdings Group (AHG) and a syndicate managed by API. The acquired properties will be leased back to AHG. Charter Hall is seeking $A55 million from investors for the new fund.

CORPORATES
CHARTER HALL GROUP – ASX CHC, AUTOMOTIVE HOLDINGS GROUP LIMITED – ASX AHG, API FUND, MAZDA AUSTRALIA PTY LTD, CORE PROPERTY PTY LTD

Viva Energy mulls real estate trust spin-off

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 19-Aug-15

Viva Energy intends to spend $A1 billion on investments. Viva CEO Scott Wyatt said on 18 August 2015 that the company will consider the creation of a real estate trust which would hold about 420 properties. Proceeds from the float would be channelled into the Geelong refinery, the supply chain and the marketing business.

CORPORATES
VIVA AUSTRALIA PTY LTD, SHELL COMPANY OF AUSTRALIA LIMITED, BANK OF AMERICA MERRILL LYNCH, CALTEX AUSTRALIA LIMITED – ASX CTX, COLES EXPRESS, VITOL SA, ABU DHABI INVESTMENT COUNCIL, DEUTSCHE BANK AG

Wobbles in equity markets make real estate more attractive

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Original article by Robert Harley
The Australian Financial Review – Page: 38 : 13-Aug-15

When equities become volatile, investors turn their attention to property which may not now produce attractive returns but at least offers a higher degree of safety. DEXUS Property Group CEO Darren Steinberg stresses "a really consistent performance" of Australian-listed real estate investment trusts (REITs). The REIT sector fell only 0.3 per cent over the last three months, compared with a decline of 5.9 per cent in the S&P/ASX 200 over the same period.

CORPORATES
DEXUS PROPERTY GROUP – ASX DXS, INVESTA PROPERTY GROUP, GIC AUSTRALIA PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, STANDARD AND POOR’S ASX 200 INDEX

Bumper debut for GPT Metro Office

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 37 : 12-Aug-15

Australian-listed GPT Metro Office, which was floated in October 2014, has reported earnings per unit of $A0.1128 for 2014-15. The fund announced a distribution of $A0.1015 per unit. The fund’s six assets had their valuation increased by $A24 million to $A401.8 million.

CORPORATES
GPT METRO OFFICE FUND – ASX GMF

Unlisted funds still on a roll

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Original article by Duncan Hughes
The Australian Financial Review – Page: 47 : 9-Jul-15

Australia’s unlisted property trust sector achieved an overall return of around 10 per cent in the year ended May 2015. This includes a return of around 26 per cent for MAB Funds Management’s Diversified Property Trust, while returns for wholesale trusts have averaged 18 per cent. Folkestone’s Adrian Harrington says investors should consider a fund’s long-term returns rather than focusing on short-term returns.

CORPORATES
MAB FUNDS MANAGEMENT LIMITED, MAB DIVERSIFIED PROPERTY TRUST, FOLKESTONE LIMITED – ASX FLK, SENTINEL PROPERTY GROUP PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD

A-REITs have a good year but a tough month

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Original article by Robert Harley
The Australian Financial Review – Page: 38 : 2-Jul-15

Australian real estate investment trusts generally performed well during 2014-15, although support for the sector turned bearish in the final month of the fiscal year. DEXUS Property Group, Mirvac Group and GPT Group in particular were heavily sold down in June 2015. BT Investment Management’s Julia Forrest expects mergers and acquisition activity to be a key driver for the sector in 2015-16.

CORPORATES
DEXUS PROPERTY GROUP – ASX DXS, MIRVAC GROUP – ASX MGR, GPT GROUP – ASX GPT, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, INVESTA PROPERTY GROUP, DOW JONES EQUITY ALL REIT TOTAL RETURN INDEX, MANULIFE FINANCIAL CORPORATION, BLOOMBERG LP, OMAN INVESTMENT FUND, FORTRESS CAPITAL ASSET MANAGEMENT, NIKKO ASSET MANAGEMENT GROUP, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COLES GROUP LIMITED, GIC REAL ESTATE PTE LTD

Garda float subscribers scaled back

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Original article by Matthew Cranston
The Australian Financial Review – Page: 46 : 25-Jun-15

The IPO of Garda Diversified Property Group has attracted strong interest from investors, with the offer being oversubscribed. CEO Matthew Madsen says the property trust is likely to debut on the Australian sharemarket about a week earlier than anticipated. Investors will pay $A1 per unit, with the IPO raising $A70m.

CORPORATES
GARDA DIVERSIFIED PROPERTY FUND – ASX GDF, OPUS INCOME AND CAPITAL FUND NUMBER 21, MORGANS FINANCIAL LIMITED, METRO PROPERTY DEVELOPMENT PTY LTD, GRANT THORNTON AUSTRALIA, BDO AUSTRALIA LIMITED

Profit from ageing and property booms

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Original article by Rose Powell
The Australian Financial Review – Page: 28 : 9-Jun-15

Gateway Lifestyle is scheduled to debut on the Australian sharemarket on 11 June 2015, following a $A381m IPO. The group specialises in developing housing estates that feature manufactured homes, with retirees as its primary target market. Residents buy their home outright but rent the land on which the property sits.

CORPORATES
GATEWAY LIFESTYLE – ASX GTY, MACQUARIE CAPITAL PTY LTD, UBS HOLDINGS PTY LTD, TASMAN LIFESTYLE