Digital Core REIT, sponsored by U.S.-listed Digital Realty Trust, is set to raise $600 million in an initial public offering (IPO) in Singapore, the largest listing in the city-state this year, the company said in its prospectus on Monday.
By Reuters Staff
2 Min Read
JOHANNESBURG (Reuters) - South Africa’s Redefine Properties reported a 62.7% decline in half-year headline earnings on Monday, due to asset sales and further rental relief to financially distressed tenants and said that it may pay a dividend.
The owner of retail, office and industrial properties said headline earnings per share, the main profit measure in South Africa, fell to 8.45 cents in the six-months that ended Feb 28, from 22.63 cents a year earlier.
During the period, total relief granted to its tenants amounted to 107.3 million rand ($7.58 million), made up of rental discounts of 81.5 million rand and deferred rental payments of 25.8 million rand, Redefine said.
By Reuters Staff
2 Min Read
(Reuters) - Equity Commonwealth, a U.S. real estate investment trust, will acquire rival Monmouth Real Estate Investment Corp for $1.91 billion in stock, the companies said late Tuesday.
Monmouth shareholders will receive 0.67 shares of Equity Commonwealth for each share they own, representing a premium of 6.3%, or about $19.40 per target company’s share based on Equity Commonwealth’s Monday close.
“The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows while preserving EQC’s balance sheet capacity for future acquisitions,” Equity Commonwealth Chairman Sam Zell said in a statement.
Monmouth’s portfolio comprises 120 properties totalling 24.5 million square feet across 31 states, the companies said in a statement.