Sunday, September 28, 2008

First REIT signs option to Acquire Healtcare Logistics and Distribution Centre

First REIT has signed an option to acquire a healthcare logistics and distribution centre in Singapore for $42 million.

An incremental annualised earning of 0.33 Singapore cents per unit is expected and would raise Singapore-based income contribution from 14% to 21%

First REIT's debt to property valuation ratio will increase however from 15.6% to 25.4%.

Is this investment worthwhile? Just a 0.33 cent increase in DPU but a 10% jump in debt to property valuation.

Will wait at the sidelines first before I start loading into First REIT again

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