Yuhuating, in Changsha, will help form the initial portfolio of CLCR, which will also consist of CapitaMall SKY+ in Guangzhou.
DBS Group Research has maintained its "buy" call and 85 cents target price on CapitaLand China Trust (SGX:AU8U
) following news that it is taking an initial 5% stake in CapitaLand Commercial C-REIT (CLCR), slated for its separate listing in China expected by end of the year. Both CLCT and CLCR are backed by CapitaLand Investment.
According to CLCT, it will be divesting one of its properties, CapitaLand Yuhuating into CLCR for RMB748 million, or an exit yield of 6.8%.
