Data from Link REIT’s latest announcement have been updated into the Hong Kong REITs table.
Link REIT has completed the acquisition of a 50% interest in Qibao Vanke Plaza.
The transaction was completed on 2 April after Link REIT acquired 50% of the equity interest in a target company that holds the property.
Link REIT first announced in February 2021 that it was acquiring the stake for RMB2,772 million.
Link REIT is funding the investment with its internal resources and facilities to partially hedge foreign exchange fluctuations.
Now that the transaction has settled, Link REIT’s pro-forma adjusted ratio of debt to total assets has risen from 17.9% to 19.2%.
Link REIT was last done on the HKEX at HKD70.40, which implies a distribution yield of 4.02% according to data compiled on the Hong Kong REITs table.