Sunday, September 19, 2010

First REIT

Just receive news that one of the Reit that I am invested (First REIT) is in the process of acquiring two additional healthcare properties in Indonesia. It is intended that both the properties will be leased by First REIT to the Sponsor under long term master lease agreements.

They are exploring the options to raise funds for the acquisition. I am watching with interest as to how do they want to raise funds eg through equity (rights, private placement) or debt (bonds, long term loans).

First REIT current gearing is not that high relative to other Reits at around 16%.

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