On the evening of August 8th, Hongtu Shenzhen Stock Exchange Anju REIT, Admiralty Xiahua Anju REIT and Huaxia Beijing Affordable Housing REIT also announced the latest development. Hongtu Shenzhen Anju Real Estate Investment Trust Fund and Admiralty Xiamen Anju Real Estate Investment Trust Fund set the issue price and date, and announced the offline inquiry results. The subscription multiples of the offline inquiry of the two funds are as high as 108.96 times and 133.03 times respectively, while the REIT of Huaxia Beijing Affordable Housing determines the inquiry date and issuance rhythm.
For the first time, the subscription multiple of offline inquiry for public offering REITs exceeded 130 times.
On the evening of August 8th, Red Clay Shenzhen Anju REIT announced the offering of fund shares in Shenzhen Stock Exchange, and determined that the subscription price of the fund was 2.484 yuan/share, and the fund raising period was from August 16 to August 17.
According to the announcement, the total fund share of Anju REIT of laterite Shenzhen Stock Exchange is 500 million shares, and the sale consists of three parts: strategic placement, offline sale and public investor sale. The number of shares of the initial strategic placement fund is 300 million, accounting for 60% of the total share of this issue. The number of fund shares offered offline for the first time is 65.438+0.40 billion, accounting for 28% of the total share offered, accounting for 70% of the total share offered after deducting the placement to strategic investors. The number of fund shares subscribed by public investors for the first time is 60 million, accounting for 65,438+02% of the total share of this issuance, and accounting for 30% of the share of this issuance after deducting the placement to strategic investors.
It is reported that the inquiry date of this offering ended on August 5, 2022 15:00, and the red soil Shenzhen Stock Exchange Anju REIT*** received the inquiry and quotation information of 252 placing objects managed by 83 offline investors, and institutional investors such as insurance institutions, brokers, private equity funds, trusts and brokers participated in it. The total number of planned subscribers of all the placing objects is186.241000000, which is 133.03 times of the initial offline share, setting a new record for the highest inquiry subscription multiple of domestic infrastructure REITs, and institutional investors have shown great recognition for REITs in the field of affordable housing leasing.
CICC Xiamen Anju REIT issued a fund share offering announcement on the Shanghai Stock Exchange, confirming that the subscription price of the fund is 2.6 yuan/share, and the total fund share raised is 500 million shares. The fund raising period is from August 6, 2006 to August 7, 2007. 220 placing objects managed by 69 offline investors participated in the inquiry of Anju REIT of CICC, and the total number of shares to be subscribed was 65,438+0,436,5438+0.20 million, which was 65,438+0.08.96 times of the initial offline share.
On the same day, China Beijing affordable housing REIT announced on the Shanghai Stock Exchange that it would start the inquiry on August 12. China Securities Regulatory Commission approved China affordable housing REIT to sell 500 million funds, and the number of strategic allotment, offline allotment and public investor allotment were 300 million, 654.38+0.4 billion and 0.6 billion respectively.
The popularity of REITs in Shenzhen, Anzhu, Jinzhong Mansion and Anju in the inquiry stage is not unrelated to the popularity of the public offering REITs market. For example, a recent public offering REIT was listed on July 26th, 2022. On the first day of listing, it rose by 2 1.52%, and the latest price difference rose by 3 1.2 1%.
Affordable rental housing REITs accelerate landing
As of August 9th, 14 publicly offered REITs have been successfully listed and traded. The above-mentioned publicly issued real estate investment trust funds cover asset categories such as industrial parks, expressways, warehousing and logistics, eco-environmental protection and clean energy.
The three public offering REITs in the issuance stage are all affordable rental housing projects. From the registration and approval of the CSRC to the launch of the sale, the development of affordable rental housing REITs has accelerated.
It is of great significance to issue REITs for affordable rental housing. Previously, the Shanghai and Shenzhen Stock Exchanges issued guidelines for the public issuance of REITs for affordable rental housing to regulate and guide the pilot issuance of REITs for affordable rental housing infrastructure. The specific contents are as follows: First, help the field of affordable rental housing to revitalize existing assets and promote a virtuous circle of investment and financing; The second is to promote the professional development of affordable rental housing; Third, insist that the house is used for living, not for speculation, and strictly implement the requirements of the national real estate regulation and control policy; The fourth is to emphasize the management of recycling funds and compact the responsibility of participating institutions.
It is reported that REIT in Anju, Shenzhen, has selected four high-quality projects in Shenzhen to participate in the REITs pilot project of affordable rental housing. All projects have obtained the certificate of affordable rental housing, which is located in the core area or section of Shenzhen, with an overall occupancy rate of 99%. * * * It involves indemnificatory rental housing 1.83 million sets,1.347 million square meters, and the asset appraisal value is about1.654,38+0.
The underlying assets of Anju REIT in Admiralty Mansion are Yuan Bo Apartment and Hengqi Apartment, with a total construction area of198,600 square meters and 4,665 suites, which mainly meet the transitional rental needs of young people, newly employed college students and other citizens.
The basic assets of Huaxia Beijing affordable housing REIT project are Longwen Jiayuan in Haidian District, Beijing and Xiyue Shang Jun in Chaoyang District, Beijing. The total construction area of these two projects is about112,800 square meters, and 2 168 houses can be rented, with a total appraisal of about 1 1.565438+. The recovered funds of this project will be mainly used for the housing construction project of surplus land in Beijing Coking Plant.
Citic Securities said that affordable rental housing REITs have certain public service attributes, and the rent of affordable rental housing is often discounted compared with market-oriented rent, so affordable rental housing often has a stable rent rate and rental income, and the rate of return of affordable rental housing in core cities will not be affected by cyclical risks. This attribute is naturally compatible with REITs products, and we are optimistic about property-based REITs whose underlying assets are less affected by local epidemics.
Public Offering of Fund increased investment and rushed to raise REITs.
Jianxin Fund said in an interview with China, a brokerage firm, that the public offering REITs market in China has accumulated for a long time, and it will be a trillion-dollar track in the future.
Public Offering of Fund companies have increased investment and rushed to sell REITs. In addition to 13 fund companies that have successfully issued public offerings of REITs, many fund companies that have not yet entered the market have also begun to look for professionals and strive for public offerings of REITs.
Public Offering of Fund, the manager of three REITs for renting affordable housing, has rich experience in REITs management and operation. For example, Huaxia Fund has successfully issued REITs of Huaxia Yuexiu Expressway and Huaxia China Jiao Jian, with the scale of public offering REITs under management exceeding10 billion yuan, Red Soil Innovation Fund has successfully issued REITs of Red Soil Yantian Port, and CICC Fund has successfully issued REITs of Admiralty Pross.
In terms of organizational structure and talent pool, Hongtu Innovation Fund said that the company has set up an independent infrastructure investment department as the investment management department of the infrastructure fund. At present, there are 8 principals in the Infrastructure Department who have more than 5 years experience in infrastructure project operation or investment management, and 5 principals have more than 5 years experience in infrastructure project operation.
Huaxia Fund said that the company has rich experience in REITs research and management. As early as 20 15, a special REITs team was set up to study and reserve REITs. The Infrastructure and Real Estate Investment Department has been established, with more than 10 professional fund managers and investment researchers responsible for the investment and post-investment operation of REITs.
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