Industry Report Card: Asia-Pacific REITs Stand In Good Stead To Face Shaky Conditions Oct 11

  • ID: 2152968
  • October 2011
  • Standard & Poors
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  • CapitaCommercial Trust
  • Frasers Centrepoint Trust
  • Fukuoka REIT Corp.
  • Goodman Property Trust
  • Mirvac Group
  • MORE

Asia-Pacific rated real estate investment trusts and real estate operating companies (collectively 'REITs') have toughened up in the aftermath of the global financial crisis. They have repaired their balance sheets, adopted more conservative financial profiles, and diversified their funding sources. However, contagion from Europe could unleash more anxiety to already jittery credit markets in Asia Pacific. Banks and other lenders in the region are already paying more to insure their debt financing, as seen in the widening real-estate credit default spreads (CDS). Coupled with stricter regulatory requirements, bank loans may come with higher interest rates, and consequently, more expensive financing for REITs, as they rely mainly on bank debt for short-to-medium-term financing. Nevertheless, Standard & Poor's Ratings Services considers that...

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- Hysan Development Co. Ltd.
- CFS Retail Property Trust Group
- Australian Prime Property Fund Retail
- Stockland
- Hongkong Land Holdings Ltd.
- Japan Real Estate Investment Corp.
- Nippon Building Fund Inc.
- QIC Shopping Centre Fund
- Japan Prime Realty Investment Corp.
- Westfield Corp.
- Nomura Real Estate Office Fund Inc.
- Commonwealth Property Office Fund
- Japan Retail Fund Investment Corp.
- DEXUS Property Group
- AMP Capital Wholesale Office Fund
- GPT Group
- Tokyu REIT Inc.
- Fukuoka REIT Corp.
- Cambridge Industrial Trust
- Mirvac Group
- The Link Real Estate Investment Trust
- AmanahRaya Real Estate Investment Trust
- Nippon Accommodations Fund Inc.
- Frontier Real Estate Investment Corp.
- Goodman Group
- Nomura Real Estate Residential Fund Inc.
- AMP Capital Shopping Centre Fund
- Frasers Centrepoint Trust
- Goodman Property Trust
- Starhill Global Real Estate Investment Trust
- DEXUS Wholesale Property Fund
- Goodman Australia Industrial Fund
- CapitaCommercial Trust
- Investa Commercial Property Fund
- Keppel REIT Management Ltd.
- Scentre Group
- Frasers Commercial Trust

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