FTREIT completes the acquisition of THB 5,700-million-worth assets, strengthening the REIT's leading position as Thailand's largest industrial and logistics REIT with a portfolio of THB 44,00

  • FTREIT invested approximately THB 5,700 million to acquire high-potential assets in nine strategic locations for industrial and logistics sectors based in five provinces from Frasers Property Thailand (“FPT”) and Chaiyanan-Bangplee Parkland (“CBP”).
  • Following the completion of the acquisition, FTREIT remains the largest REIT in Thailand with assets under management of THB 44,000 million.
  • FTREIT continues to appoint Frasers Property Thailand to execute marketing and sales as well as property management for FTREIT’s assets.

BANGKOK, 8 FEBRUARY 2021

Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” announced the completion of the acquisition of THB 5,700 million high-potential assets from Frasers Property Thailand Public Company Limited (“FPT”) and Chaiyanan-Bangplee Parkland Company Limited (“CBP”). The acquisition took place over several transactions during the period from September 2020 to February 2021.

The new assets comprise ready-built factories and warehouses as well as built-to-suit warehouses in the strategic locations in provinces of Samut Prakan, Chonburi, Rayong, Pathum Thani and Ayutthaya, totaling 57 units which span 271,909 sq.m. The existing tenants are leading companies in industries such as automotive and electronics. Without the sponsor’s income guarantee, current occupancy is 87%.

The recent success of the portfolio expansion reinforces Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT)’s position as the largest REIT in Thailand with a portfolio value of THB 44,000 million and the assets under management totaling 636 units representing 2.03 million sq.m., all of which are located in the prime strategic locations of industrial and logistics in Thailand including Ayutthaya, Pathum Thani, Samutprakarn, and Eastern Economic Corridor.

Mr. Peerapat Srisukont, Managing Director of FIRM, the REIT Manager of FTREIT, said, “As the REIT manager, we focus on driving a continuous growth of FTREIT through high-potential assets. The recent completion of the acquisition brings a balanced diversification to our portfolio which will mitigate investment risk and increase opportunities to generate sustainable returns to our unitholders. It will also attract investors and build their confidence in our REIT. To ensure that our assets are taken care of by professionals, we continue to appoint Frasers Property Thailand as the property manager of our assets. We believe that their well-established experience and strong expertise will support FTREIT in property management in the most efficient way and deliver high-quality services to our tenants. Moreover, In FY2021, REIT Manager plan to acquire more high potential assets from both of FPT and other parties to enhance portfolio value of FTREIT”.

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