SG Property Intelligence

Research evidence excerpt

SG Property Intelligence

J P M O R G A N Asia Pacific Equity Research

09 July 2026

SC Capital Partners acquired the 206-room Citadines

Central Shinjuku Tokyo

Singapore/ASEAN Property and

REITs

SC Capital Partners acquired the 206-room Citadines Central Shinjuku AC Terence M Khi

Tokyo at an undisclosed price via its Japan Hospitality Fund, targeting a large-

(65) 6882-1518

inventory asset in a high-demand Shinjuku submarket. The property was sold by terence.ml.khi@jpmorgan.com

CapitaLand Ascott Trust to Mizuho Leasing for S$223m in 2025. (Source: AC Mervin Song, CFA

EdgeProp, Traicy Global, The Business Times) (65) 6882-7829

mervin.song@jpmorgan.com

Companies J.P.J.P. MorganMorgan SecuritiesSecurities Singapore(Asia Pacific)PrivateLimited/Limited/J.P.

Morgan Broking (Hong Kong) Limited

AIMS APAC REIT is acquiring a 9.15-ha freehold industrial site in

Hazelmere, Perth for A$42.7m (c S$38.4m), with completion expected around

2Q FY2027. The asset is 100% leased to Swan Materials on a 10-year triple-net

lease from 1 Oct 2025 with 3.25% annual escalation, supporting income visibility.

Entry yield is 5.3% on Year 1 NPI, with pro forma (100% debt funded) FY2026

DPU accretion of ~0.3% and gearing rising from 26.8% to 28.1%. Upside includes

redevelopment optionality given low site coverage of about 13% and potential

longer-term data centre suitability given proximity to a 550MVA power substation,

subject to feasibility and approvals. (Source: Aims APAC REIT)

ESR and Mitsubishi’s wholly-owned MC Urban Development Indonesia

(MCUDI) have started phase 2 of their Indonesia partnership, developing two

Grade A logistics and industrial hubs in Karawang and Cikarang with expected

asset value of over US$80m (S$103.3m) and completion targeted for 3Q27.

(Source: EdgeProp)

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