SG Realty: Keppel DC REIT deal; Hetton acquisition; Mapletree Logistics fundraise

Supertrees at Gardens by the Bay in Singapore.

Keppel DC REIT and a Heeton-led consortium have made acquisitions in Dublin and Manchester, while Mapletree Logistics Trust is raising S$640 million in a private placement.

Keppel DC REIT acquires Dublin data centre

Keppel DC REIT announced on Wednesday that it has acquired its second co-location data centre in Dublin, Ireland for an aggregate consideration of 66 million euros ($101.3 million). The transaction is entirely debt-funded and will see its leverage increase to 32.4 per cent from 27.7 per cent.

The data centre has a weighted average lease expiry (WALE) of approximately 11.0 years with a lettable area of approximately 25,200 sq ft. It is 87.3 per cent leased to global internet enterprise, IT services and telecommunications clients.

It is immediately accretive to Keppel DC REIT’s distribution per unit (DPU), and is aligned with a growth strategy of acquiring quality income-producing data centre properties.

The acquisition has increased its assets under management to S$1.5 billion.

Heeton-led consortium acquired Dry Bar in Manchester

A consortium comprising Heeton Holdings, KSH Holdings and Ryobi Kiso Holdings is acquiring Dry Bar, an entertainment venue in Manchester City, with a view to redevelop the property into a boutique hotel. Financial terms of the acquisition are undisclosed.

Treasure Choice Enterprises, a joint venture (JV) between Heeton, KSH and Mchester Development, a 40%-associated company of Ryobi Kiso, will oversee the redevelopment. On completion, it will be managed by Heeton’s hospitality division, which currently manages five of the group’s other UK hotels. Heeton holds a 50 per cent effect interest in Treasure Choice, with the remaining held by KSH (25%) and Mchester Development (25%).

Mapletree Logistics Trust to raise S$640m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.