Headline News: REITs

• REIT buying 3 dallas apartment communities
  Grubb Ellis Apartment REIT has contracted to purchase the Mission Prestonwood Apartments at 333 Prestonwood Drive in Richardson, the Mission Mayfield Downs apartments at 2901 Mayfield Rd. in Grand Prairie, and the Mission Rock Ridge apartments at 305 Ranch Drive in Arlington.
  
• AmanahRaya REIT assets to grow 40pc
  Malaysia's fourth largest Real Estate Investment Trust (REIT), Amanah Raya Real Estate Investment Trust (ARREIT), expects its assets to grow 40 per cent to RM1.8 billion next year from RM1 billion currently. Amanah Raya Bhd (ARB) group managing director Datuk Ahamd Rodzi Pawanteh said this year it would increase the total asset value to RM1.3 billion, with the injection of three properties owned ...
  
• Axis-REIT in talks to buy stake in Philippine firm
  AXIS-REIT Managers Bhd (5106) is looking into expanding its real estate investment trust (REIT) business by acquiring a stake in a future REIT manager in the Philippines. "We are in discussions with a party in Manila to take an equity position and assist in the management of its future listed REIT," Axis-REIT chief executive officer Stewart LaBrooy told Business Times. LaBrooy was asked to ...
  
• AmFIRST REIT undertakes further acquisitions
  KUALA LUMPUR: Mayban Trustees Bhd (MTB) has proposed to acquire a parcel of land with a five-storey office building in Jalan Teknokrat 7, Cyberjaya from FSBM Holdings Bhd for RM51.5 million cash, to be injected into AmFirst Real Estate Investment Trust (AmFIRST REIT).In a statement on Sept 2, Am ARA REIT Managers Sdn Bhd, the REIT's manager, said FSBM had accepted an offer made by MTB. The ...
  
• Health Care REIT is making its move
  By JULIE M. McKINNON BLADE STAFF WRITER After nearly a year of multimillion-dollar renovations incorporating green energy and employee-wellness features, Health Care REIT Inc. is moving its headquarters this weekend into 4500 Dorr St., the stately longtime former home of Dana Holding Corp. Ninety-five employees, mostly from Health Care REIT's downtown Toledo office, will start working Tuesday at ...
  
• Ascendas REIT raised to Buy by RBS with $2.55 target
  Royal Bank of Scotland upgrades Ascendas REIT (A17U.SG) to Buy from Hold, lifts target price to $2.55 from $2.00 on optimism over Singapore's industrial property sector, says Dow Jones. RBS expects hefty rise in Singapore industrial rents following strong growth in manufacturing sector in 1H10: “All signs suggest tenants in A-REIT's portfolio may look to expand.” Read more...
  
• Axis-REIT private placement oversubscribed
  The private placement of 68.82 millionnew units of Axis Real Estate Investment Trust (Axis-REIT) has been oversubscribed. In a statement here today, Axis REIT Managers Bhd said the private placement represented 22.4 per cent of the existing approved fund size of 307.08 million units and would increase the approved fund size to a maximum of 375.90 million units. "The private placement is to be ...
  
• Axis-REIT's Private Placement Of 68.82 Million New Units Oversubscribed
  KUALA LUMPUR, Sept 1 (Bernama) -- The private placement of 68.82 million new units of Axis Real Estate Investment Trust (Axis-REIT) has been oversubscribed.
  
• A Milestone For PKNS With Foray Into REIT Industry
  KUALA LUMPUR, Sept 3 (Bernama) -- Selangor State Development Corp (PKNS) has reached a significant milestone with its entry into the real estate investment trust (REIT) industry in line with its plan for the next level of growth.
  
• Grubb REIT Inks $182M Deal for 2,676 Units
  SANTA ANA, CA-Grubb & Ellis Apartment REIT has signed agreement to acquire nine multifamily properties totaling 2,676 units in three states from Oakton, VA-based MR Holdings LLC, as well as all of the assets of Mission Residential Management LLC, for $182 million.