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Brokers' take
Add BT as a preferred sourcePublished Mon, Dec 3, 2018 · 09:50 PM
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CapitaLand | Buy (maintained) Target price: S$4.40 Dec 3 close: S$3.22 UOB Kay Hian, Dec 3
CapitaLand made its first foray into US multi-family properties via the acquisition of 16 freehold properties for US$835 million which was completed on Oct 18.
The group also expanded its exposure to China, via its effective stake of 20.85 per cent in the 12.8 billion yuan (S$2.53 billion) acquisition of Shanghai's tallest twin towers. CapitaLand acquired the portfolio of 16 Class B multi-family properties across Seattle, Portland, Greater Los Angeles and Denver in the US, which have yields of 5-5.5 per cent.
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