MGCCT upgraded to 'add' by CIMB on Japan expansion

SINGAPORE (Mar 29): CIMB is upgrading its call on Mapletree Greater China Commercial Trust (MGCCT) to “add” compared to “hold” previously, with a higher target price of $1.30.

This came on the back of the trust announcing yesterday that it is acquiring a 98.7% stake in a portfolio of six Japan commercial properties from MJOF, a private real estate fund managed by its sponsor, for $753.4 million.