Spring Real Estate Investment Trust | REIT Profile

Symbol: 1426
Exchange: HKG
Founded: 2013 (11 years)
HQ: Hong Kong, China
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Office, Residential, Hotel, Hotel

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Spring Real Estate Investment Trust ("Spring REIT", HKEx stock code: 01426) is a real estate investment trust which owns and invests in income-producing real estate primarily in Mainland China, while seeking yield-accretive investment opportunities globally. Spring REIT seeks to offer to Unitholders stable distributions and the potential for sustainable long-term growth. Spring REIT is the first Hong Kong REIT to offer direct exposure to two Premium Grade office buildings strategically located in the Central Business District (CBD) of Beijing, and is also the first Hong Kong REIT to have made an acquisition in the United Kingdom. The Property portfolio of Spring REIT (the Properties) includes: (1) two premium grade office buildings in the China Central Place complex in Beijing, China (the CCP Properties); and (2) a portfolio of retail properties in the United Kingdom (the UK Retail Properties). The CCP Properties comprise all of the office floors of Office Tower 1 (including Levels 4 to 28, and the equipment and emergency shelter floor on Level 16, which contains no lettable space) and Office Tower 2 (including Levels 4 to 32, and the equipment and emergency shelter floor on Level 20, which contains no lettable space) in China Central Place, a prime mixed-use development complex in Beijing, as well as a total of approximately 600 car parking spaces in the underground levels of the two office buildings. As one of the most highly regarded Premium Grade office properties in Beijing, both office towers enjoy high occupancy rates and a diverse and high quality tenant base. The UK Retail Properties comprise 84 separate retail properties with diversified locations across the United Kingdom. The properties are leased to Kwik-Fit, a leading car servicing service provider in the UK. Kwik-Fit has the largest network of fast-fit centres in the country with more than 600 centres. Spring REIT is managed by Spring Asset Management Limited (the "REIT Manager"), a company incorporated in Hong Kong and a subsidiary of Mercuria Investment Co., Ltd. (Mercuria Investment). Mercuria Investment is a private equity investment firm based in Japan with extensive experience in investing in companies, real estate and other projects in growth sectors in Japan, China and other parts of Asia.