Ben Paul’s Post

𝐌𝐚𝐬𝐭𝐞𝐫 𝐅𝐮𝐧𝐝 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 We are thrilled to share the latest performance highlights of our Master Fund: 🔹 EUR Class: 8.24% growth 🔹 CZK Class: 8.17% growth These results span the past 12 months, concluding on March 31st. The annual average return stands at 10.49% p.a., demonstrating, in general, the benefits of long-term investment 📈 strategies. 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 Our Master Fund was recently boosted by strategic acquisitions in Slovenia 🇸🇮. With the addition of three new retail parks in the northern part of the country, the fund’s portfolio now consists of 41 properties valued at SGD 633 million. #investments #realestate #investmentfund #convenienceretail #zdrinvestmentssgvcc

CapitaLand Ascendas REIT (#CLAR) reported stable operational performance with a healthy portfolio occupancy rate of 93.3% and positive rental reversion of 16.9% in 1Q 2024. In line with its capital recycling and proactive asset management strategy to improve the quality of its portfolio, CLAR has completed the divestments of three logistics properties in Australia. CLAR continues to optimise its portfolio by investing S$551.0 million in redevelopments and asset enhancement initiatives in its Singapore portfolio, demonstrating its commitment to enhancing the value and performance of its assets.   For more on CLAR’s 1Q 2024 business updates, read: https://bit.ly/CLAR1Q24.   #Investment #REITs #Financials #Earnings

What an exciting news article to kick off the week! Hong Kong-listed ESR Group, APAC's largest real asset manager, receives a non-binding and conditional take-private proposal from a consortium comprising Starwood Capital Group, SSW Partners, and Sixth Street. The proposal offers existing ESR shareholders the option to either receive cash consideration or convert their shares into the new private entity.    Currently, the consortium holds 15.7% of ESR, while Warburg Pincus LLC and the three individual founders of ESR own 14.04% and 7.43% stakes, respectively. Despite not being part of the consortium, Warburg Pincus and the founders have held discussions with the consortium and expressed support for the proposal, believing it to be in the best interests of the shareholders.    Should the deal materialize, ESR could expedite its efforts to simplify and streamline its businesses away from public scrutiny. In 2023, the company outlined plans to divest up to USD 750 million worth of non-core assets and businesses. Notably, in March 2024, the firm sold its ARA Private Funds in Australia, Singapore, South Korea, and the USA for USD 270M. Furthermore, the new private entity can focus on completing the integration of two platforms – ESR and LOGOS – inherited from the 2021 ESR/ARA Asset Management merger into a unified business across APAC.    For Starwood, the potential acquisition presents an opportunity to significantly strengthen the firm's presence in the logistics and data centers sectors, particularly in Asia. In FY 2023, ESR achieved a record leasing of 5.3 million sqm of space in their new economy segment, encompassing logistics, data centers, life sciences, and high-tech industrials. Moreover, ESR has 560MW of data center projects under construction and aims to complete a 1GW pipeline across APAC gateway cities. Barry Sternlicht, Starwood’s Chairman and CEO, emphasized logistics and data centers as the firm's "key growth areas" in the announcement of acquiring a 10.7% equity stake in ESR in March 2024.    The acquisition could be a game-changer for Starwood, potentially propelling the firm into the top 5 global real estate investment managers. According to INREV's Fund Manager Survey 2023, Starwood currently holds the tenth position with €110 billion in AUM, while ESR occupies the seventh position with €133 billion. A successful acquisition of ESR could substantially elevate Starwood's AUM and expand its investment strategies and product offerings, solidifying its position as a major player in the global real estate investment arena. #datacenter #logistics #lifesciences #neweconomy #alternatives #commercialrealestate #merger #acquisition #AUM #fundmanagers #AsiaPacific

CapitaLand Ascendas REIT (#CLAR) has published its Annual Report 2023, highlighting the significant achievement of surpassing S$1 billion in net property income since its IPO in 2002. This is underpinned by the various acquisitions over the years and its own built-to-suit development projects that grew the total portfolio value to S$16.9 billion, along with the implementation of asset enhancement initiatives and its robust operational performance. CLAR will remain disciplined in its three-pronged approach to create value for unitholders. It will undertake value-adding investments on high-quality assets, be prudent in capital and risk management, and be proactive in portfolio management. It will also identify and capitalise on opportunities to reshape its portfolio to cater to the evolving market and tenant requirements. Read the full report for more: https://bit.ly/CLARAR2023   Swan Gin Beh #WilliamTay #annualreport #investment #REITs  

📈 Master Fund Performance 🗓️ Another great month for the Master Fund! Over the last 12 months (ending on June 30th), our real estate investment fund delivered a return of 9.01% in its EUR 🇪🇺 class and 8.79% in the CZK 🇨🇿 class. The average return since inception stands at an impressive 10.69% p.a. It has been a busy half-year for the ZDR Master Fund. We kicked off January with the acquisition of a retail park in Prague 🇨🇿. In April, we added three retail parks in northern Slovenia 🇸🇮, marking our entry into our sixth country. And in June, we added another retail store in Czechia 🇨🇿. This brings our total portfolio to 42 properties, with five new real estate acquisitions this year. #investments #realestate #investmentfund #convenienceretail #zdrinvestmentsSGVCC

Strategic Acquisitions for Leading Returns 📈 At Exceed Capital, one approach of our asset acquisition strategy focuses on purchasing properties below replacement cost, a proven method that strengthens returns and creates potential for capital uplift through asset repositioning. This approach is highlighted in the latest The Australian Financial Review article by Sam Tamblyn. Fund Manager, Wayne Oloughlin shares, "Our current investment opportunity, GS Property Trust (19 Grenfell Street, Adelaide) is a perfect example of this article in practice. Purchasing at $2,423/m2 we are able to target highly competitive rents whilst still providing a market leading return to our investors. The low purchase price also provides great opportunity for capital uplift through changing market cycles." AFR Article | Read more🔗 https://shorturl.at/lOOqb

The Fund Monitor: Mergers and capital returns What next for abrdn Investment Trusts Property Income after Urban Logistics REIT walks away? 🤔 Will Tufton Oceanic return capital to shareholders? 💷 Catch up on the latest here. #InvestmentTrusts #Dividends #Capital

Track the latest corporate deals (M&A, IPOs & strategic shareholdings) within the African listed equity market. A new service from Capital Markets Africa. *For paid subscribers only* https://lnkd.in/eS7y7p6n Recent deals include Sirius Real Estate, Kenya Orchards Limited, Champion Breweries PLC and MultiChoice Group. #investinginAfrica #Africanequities #Africanstocks #Africancapitalmarkets

BTG Pactual’s logistics-focused real estate fund, BTLG11, announced on August 16th, via a material fact disclosure, that it has entered into an agreement to acquire 11 logistics assets, predominantly located within a 60 km radius of São Paulo, for a total of R$ 1.7 billion. Although the deal is still subject to due diligence and approval from the Administrative Council for Economic Defense (CADE), analysts see the potential acquisition as a positive move, further solidifying the fund’s position as a key player in the logistics market. Read full article here: https://lnkd.in/dKvBWRxe #fund #acquisition #logistic | Fernando Crestana | Carolina Borges | Ricardo Figueiredo - CNPI

Why the merger of three good real estate organisations :-British Property Federation, AREF (The Association of Real Estate Funds) and Investment Property Forum is a good thing. My comments in this week Property Week. The more we speak with one Voice, the more Government will listen, the more we will influence change. #regeneration #realestate