Saizen REIT

[winston]

Vested

Argyle bought 1.275m shares, increasing their stake to 15.58% from 15.47%

[winston]

Vested

REPAYMENT PLAN FOR YK SHINTOKU LOAN


http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[winston]

Vested

An earthquake and tsunami hit the north-eastern region of Japan on 11 March 2011.

Saizen REIT has 28 properties, valued at an aggregate of JPY 5.9 billion (S$89.9 million1), located in the cities of Sendai, Koriyama and Morioka which were affected by the earthquake and tsunami.

Inspections on all affected properties revealed only minor damage, and the properties continue to be occupied by tenants. Based on current estimates, repair expenses on affected properties are expected to amount to no more than JPY 200 million (S$3.0 million).

Loan of YK Shintoku to be fully repaid by end of May 2011.

Net asset value per Unit, decreased from S$0.40 per Unit as at 30 June 2010 to S$0.34 per Unit as at 31 March 2011, as the exercise price of the warrants is lower than the prevailing net asset value per Unit of the Group.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[winston]

vested

REPAYMENT OF YK SHINTOKU LOAN

The Board of Directors of Japan Residential Assets Manager Limited, the manager (the “Manager”) of Saizen Real Estate Investment Trust ("Saizen REIT"), is pleased to announce that the loan of YK Shintoku had been fully repaid on 31 May 2011 (the “Repayment”).

Following the completion of the Repayment and the cancellation of the mortgage over YK Shintoku’s property portfolio, YK Shintoku’s portfolio of 27 properties which is valued at approximately JPY 4.3 billion1 (S$65.6 million2) will become unencumbered.

Together with the property portfolios of YK Keizan, YK Shingen and GK Chosei, the total value of Saizen REIT’s
unencumbered properties will amount to approximately JPY 14.9 billion (S$227.5 million).

After the Repayment, Saizen REIT’s borrowings comprise five loans amounting to approximately JPY 9.0 billion (S$137.4 million), with the nearest loan maturity due in June 2013.

Saizen REIT’s gearing3 after the Repayment is approximately 24%.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[winston]

Vested

Moody's upgrades Saizen's ratings to B1; outlook stable

June 16 (Reuters) - Saizen: Moody's upgrades Saizen's ratings to B1; outlook stable


Source: Reuters

[winston]

Vested

NAV Sin$0.32
Yield 6.2%
Gearing: 25%
Occupancy: 91%

There were 161 properties at the start of FY2011 and 130 properties at the end of FY2011

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[winston]

vested

Trading halt

55% Discount to RNAV ?

[winston]

vested. No big deal ...

NEW LOAN FROM TOKYO STAR BANK LTD

The Board of Directors of Japan Residential Assets Manager Limited, the manager (“Manager”) of Saizen Real Estate Investment Trust (“Saizen REIT”), is pleased to announce that Yugen Kaisha (“YK”) Shingen and YK Keizan have entered into an agreement (the “Loan Agreement”) for a JPY 4.0 billion (S$67.3 million1) loan (the “Loan”) from Tokyo Star Bank Ltd (“Tokyo Star”), on 28 September 2011.

With the Loan, Saizen REIT’s gearing will be about 32%.



http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[winston]

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of the unitholders of Saizen Real Estate Investment Trust (“Saizen REIT”) will be held at InterContinental Singapore, Level 2, Ballroom 1, 80 Middle Road, Singapore 188966, on Tuesday, 25 October 2011 at 10.00 a.m.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[momoeagle]

I'm vested in Saizen REIT too.

With CMBS loan all cleared up, and properties being freehold, Saizen has some potential to realise its value.

Most REITs, no matter their sponsors, trade at a slight discount currently to their NAV. Only Saizen trades at a huge discount.
The main risks is a Black Swan event, and as we have seen in March, manifest itself as a gigantic earthquake followed by a nuclear power plant leakage.