Netherlands-based pension administration organisation APG Algemene Pensioen Groep NV has purchased 1.826 million units in Singapore-listed Forterra Trust (SGX:LG2U). APG is one of the biggest pension fund managers in the world, managing the pensions for approximately 2.6 million Dutch people.

Forterra Trust has a portfolio of 7 commercial and retail properties across China.

In a retrospective filing made with the Singapore Exchange, it was disclosed that the units were purchased at a price of S$1.92 each, giving a total transaction price of S$3,505,920. That acquisition increased APG’s stake then in Forterra Trust to 8.55 per cent from 7.84 per cent previously.

Currently APG Algemene Pensioen Groep NV continues to hold 21,985,397 units in Forterra Trust, representing an 8.66 per cent stake in the real estate security.

Forterra Trust is a China-focused business trust that is highly exposed to the commercial and retail property sectors of China. It currently has a portfolio of 7 properties in the country including a Logistics Park in Beijing and a shopping mall in Shanghai.

Units of Forterra Trust have since appreciated to S$2.26 since the transaction and are currently trading down about 1 per cent from its previous closing price of S$2.28 on the Singapore Exchange.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.