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PROPERTY TRUSTS & INVESTING

August 20th, 2008

Courageous AXA plans $1bn REIT listing

AXA has made an unusual decision, planning to publicly list the $1 billion AXA Wholesale Australia Property Fund in a shrinking A-REIT market, in a bid to stave off liquidity pressures.

CFX projects on hold, but growth is not

CFS Retail Property Trust has temporarily turned the tap off its $200 million sub-regional redevelopment pipeline but...

Cromwell goes from strength to strength

INVESTORS would have thought market conditions have not changed if they had a look at Cromwell Group’s strong profit...

Commonwealth Office shaken but not stirred

MODESTLY geared Commonwealth Property Office Fund has held in good stead despite taking a hit from the global credit...

Octaviar to check out of Skase resort

OCTAVIAR, formerly known as MFS, has “officially” put the Christopher Skase developed Sheraton Mirage Resort...

Becton price crash

MELBOURNE based property company Becton saw its share price decimated yesterday with its share price falling...

Government serves up Melbourne Tea House

HOTEL property investors and developers are invited to take a sip of Melbourne’s Tea House building, which is...

PROPERTY TRUST & INVESTING

ALE keeps filling investors’ glass

ALE Property Group still delivered a solid distributable profit to investors despite spending some money to buyback its stapled securities.

• ING Healthcare get A+ results

• Credit Suisse gives RAT more time

• Babcock Japan lifts profits by 22%

• A-REITs no longer safe haven

• Writedowns beats down Challenger property

PROPERTY STOCKS REVIEWED

REITs facing tough Reporting season

THE Australian REIT sector faces perhaps its most anticipated reporting season ever, according to CITI Real Estate Investment Research.

• Stockland – ‘Sad ears, lovely head’, Credit Suisse

• Drama in LPTs theatrics to continue?

COMMERCIAL

Charter Hall gets a Medicare boost

CHARTER Hall has snared Medicare Australia to its ONE30 Stirling Street office development in the Perth CBD.

• Centro funds lists $270m centre

• New office project at Kawana hub

• DEXUS to cash in Aviva Building

• Macquarie Country offloads Seaford Plaza

• Blundy buys Homeworks Kotara

Email sale/lease results to results@propertyreview.com.au

RESEARCH

4-Star AXA Property Fund rating on hold

ADVISER Edge has placed its four-star rating on the AXA Australia Property Fund on hold, citing concerns over the fund’s move towards highly illiquid investments.

• Apartment projects in jeopardy

• Boom times coming for retirement sector

• Bear market & lower interest rates

• Worsening retail turnover = lower rental growth?

• Commercial transactions scales back

ASIA PROPERTY NEWS

Frasers Centrepoint settles Allco REIT buy

FRASERS Centrepoint has completed the purchase of a 17.61% stake in the Singapore Stock Exchange listed Allco Commercial Real Estate Investment Trust and 100% of the REIT manager Allco (Singapore)...

• Allco kicks Singapore habit for $138m

• ARA Asia fund raises $US1.13bn

• Money not a problem for MGPA

• Asia feasts on global credit crunch

• E.VO drives green projects in Vietnam

RESIDENTIAL

More please!

OPINION: TOO few, not too many, new apartments are proposed across inner Brisbane.

• Auctions remain subdued

• Affordability stays at 24 year low

• Devine goes after investors

• Sale so sweet at Salt Village

• Koreans plan $220m GC tower

AND FINALLY

• Bad market mix weaken Boral results

BUILDING materials supplier Boral Limited is continuing to feel the pain of United States downturn.

• Institutions bearing funds to King

CONFIDENT institutional investors have backed Leighton Holdings’ latest offer, raising $700 million.

• City Pacific fund reduces debt

THE city Pacific First Mortgage Fund has reduced its bank facility down to approximately $120...

• Cambridge promotes from within

STRATA and facility manager Cambridge Management Services has Hugh Beutel to the position of state...

• AIPM sells rent rolls

AUSTRALIAN Institute of Property Management has sold $1.6 million of its rent roll.

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MOST POPULAR

• Aspen keeps climbing

ASPEN Group has credited strong rental increases and a 47% growth in funds...

• GEO flicks off another non core asset

GEO Property Group has sold another non core property at 152 Gilba Road,...

• Mervyns to close eight shops

US department store chain Mervyns will close eight stores leased from Macquarie...

• City Pacific fund seeks $1bn

CITY Pacific has gone cap in hand looking to raise $1 billion for the City...

• Court wind up aged care schemes

THE Federal Court of Australia has made orders to wind up two managed...