This means First REIT will now have an enlarged pool of Right of First Refusal (ROFR) assets comprising both OUE LH and LK’s healthcare assets.
SINGAPORE (Dec 13): OCBC Investment Research is maintaining its “hold” call on First REIT with a lower fair value of $1.05 from $1.34 previously, after factoring in various risks pertaining to the REIT’s master leases and portfolio balancing.
To recap, OUE Lippo Healthcare (OUE LH) recently acquired a 10.6% stake in First REIT from its sponsor, Lippo Karawaci (LK), as well as acquired the REIT manager from LK in a 40-60 split between OUE LH and OUE Limited.
