FCT eyes retail malls held by third parties
The retail landlord posts a 1.5% dip in Q4 DPU, but a record high full-year DPU
Singapore
FRASERS Centrepoint Trust (FCT) is eyeing retail malls held by third parties even as it waits for some assets held by its sponsor to be stabilised for acquisition.
"While we are waiting for pipeline assets to be ready, we are looking at third-party assets - some big, some smallish," said Chew Tuan Chiong, CEO of the Reit manager. "A good suburban mall valued at 5 per cent cap rate, I think, will be very attractive to many of the Reits."
Mr Chew noted that it is "an active marketplace now" because some assets in Singapore are becoming available as the economy is slowing. "Can't say more but watch this space," he told reporters and analysts at a briefing on FCT's fourth-quarter results ended Sept 30, which churned out a mixed report. FCT units closed 1.4…
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