• Singapore stock market and companies daily report (Croesus Retail Trust) (September 29, 2015)

    Croesus Retail Trust announced the acquisition of Torius Property in Fukuoka Prefecture, Japan, for $95.2 million, marking the groupís fourth acquisition since its IPO in May 2013.

    Torius Property is an income-producing large-scale suburban retail mall located in Fukuoka Prefecture, Japan and is one of the largest retail facilities in Fukuoka City with few comparable retail facilities nearby. It has a high occupancy rate of 95.3 percent with a diversified mix of 145 tenants which includes whole sale goods retailer Costco Wholesale; 100 yen shop Daiso; and United Cinema.

    The acquisition is believed to improve dividends per unit yield to unitholders and is seen as a strategic addition to the groupís portfolio, diversified across Japan. The acquisition brings a more balanced portfolio with stable income and sustainable growth, and is in alignment with the groupís investment strategy to increase exposure to Japanís retail sector.

    Contributed by Shares Investment
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