Prosperity Real Estate Investment Trust · HKEX:808
Prosperity Real Estate Investment Trust — Merger or Acquisition (December 2013)
8 slides from Prosperity Real Estate Investment Trust's merger presentation, December 2013
Slide 1: Proposed Acquisition of 9 Chong Yip Street, Kwun Tong
Proposed Acquisition of 9 Chong Yip Street, Kwun Tong December 2013
Slide 2: Disclaimer
Disclaimer The information contained in this document is not intended to provide, and you may not rely on this document as providing, a complete or comprehensive analysis of the Prosperity REIT’s financial or trading position or prospects. The past performance of Prosperity REIT is not necessarily i
Slide 3: Building information
Building information Property Profile Location 9 Chong Yip Street, Kwun Tong, Kowloon Property Type Office Year of Completion 2004 Gross Rentable Area 136,595 sq.ft. Number of Car Park Spaces 64 private car parking spaces and 4 loading / unloading spaces Number of Tenants ¹ 41 Appraised Value ¹ HK$1
Slide 4: Reasons for, and Benefits of the Acquisition
Reasons for, and Benefits of the Acquisition 1 Yield Accretive Acquisition Expected to be yield accretive and improve the earning and distribution per unit (DPU) due to lower funding cost relative to rental yield. 2 Quality Asset in Strategic Location Strategically located in Kwun Tong, a maturi
Slide 5: Map of Kwun Tong
Map of Kwun Tong Third property in the Kowloon East district Prosperity Center (Industrial / Office) (“MC”) URA Kwun Tong Town Centre Redevelopment Project Millennium City (“MC”) 9 Chong Yip Street Landmark APM (Office) East Prosperity Place Cruise (Commercial) Terminal Acquisition of 9 Chong Yip
Slide 6: Financial Impact of the Acquisition
Financial Impact of the Acquisition Fully funded by debt financing Financing Consideration Indicative Terms Maturity i) HK$404 million secured term loan at 1.45% per 5 Years annum over HIBOR Expiring in December 2018 The New Facilities HK$784 million ii) HK$380 million unsecured term loan at 3 Yea
Slide 7: Financial Impact of the Acquisition
Financial Impact of the Acquisition Yield Accretive Acquisition - enhance DPU and improve NAV Distribution Per Unit NAV per Unit Gearing Ratio (For the 6 months ended (as at 30 June 2013) (as at 30 June 2013) 30 June 2013) Existing Group HK$4.52 HK$0.0744 20.9% Enlarged Group HK$4.54¹ HK$0.0771² 2
Slide 8: Thank you
Thank you Date and time of the EGM: 15 January 2014 at 10 : 30 a.m. ARA Asset Management (Prosperity) Limited (as manager of Prosperity REIT) Ms. Mavis Wong Chief Executive Officer maviswong@ara.com.hk Mr. Abel Mak Property Analyst abelmak@ara.com.hk Units 5508-10, 55/F, The Center Tel: +852 2169 09
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