Prior to Apr 6, Tikehau Capital and City Developments (CDL) held 16.64% and 12.52% of the units in IREIT Global, respectively. Following the purchase of additional stakes in IREIT from Tong Jinquan announced on Apr 6, Tikehau Capital now owns 29.20% while CDL owns 20.87% of the units in IREIT. A new unitholder, AT Investments, has acquired a 5.50% stake in IREIT. With Tikehau and CDL as sponsors, IREIT is likely to have a new beginning.
SINGAPORE (April 8): Since Mar 23, when the FTSE Straits Times REIT Index touched its lowest level this year, it is up around 16.5% as at Apr 8. The top five performers since Mar 23 have done much better (see chart 1). IREIT Global for instance is up 47%, followed by Cache Logistics Trust up 43% and Frasers Logistics and Industrial Trust which gain 37%. All three REITs have experienced some form of corporate action.
