SF Real Estate Investment Trust
0.29
EUR
0.00
(0.00%)
ISIN
HK0000735800
Return %
Stock
S&P 500
1Y
-11.66
14.20
3Y
- -
81.12
5Y
- -
68.34
Capital Structure
HKD
•
in mil. unless spec.Working Capital
HKD
•
in mil. unless spec.Growth Rates
HKD
•
in mil. unless spec.Semi-annual Revenue
HKD
•
in mil. unless spec.Semi-annual Earnings Per Share
HKD
•
in mil. unless spec.Semi-annual Dividends Per Share
HKD
•
in mil. unless spec.Company Description
- CEO
- Chung Chi Lam
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- Room 2002 20/F Lee Garden Six Hong Kong Hong Kong
- IPO Date
- May 17, 2021
- Website
- sf-reit.com
- Similar Companies
- Business
- SF Real Estate Investment Trust (SF REIT), ticker 2191.HK, constitutes the first logistics properties-focused real estate investment trust listed on the Main Board of The Stock Exchange of Hong Kong Limited; it invests in income-generating real estate globally with an initial focus on modern logistics properties and generates revenue primarily from rental income and related services. Constituted by a trust deed dated 29 April 2021 and authorised by the Securities and Futures Commission of Hong Kong, SF REIT maintains a portfolio of four strategically located modern logistics assets comprising the Asia Logistics Hub – SF Centre in Tsing Yi, Hong Kong, a 15-storey ramp-up facility with 160,324 square metres of gross leasable area (GLA) equipped with automatic sorting, supply chain support, warehouses, carparks and ancillary offices; the Changsha Property in Hunan Province, Mainland China, with 119,684 sq.m. GLA supporting express parcel delivery and supply chain management; the Foshan Property in Guangdong Province, a built-to-suit distribution centre of 84,951 sq.m. GLA serving as a regional hub for express delivery; and the Wuhu Property in Anhui Province with 62,698 sq.m. GLA accommodating express delivery, freight forwarding and contract logistics. These properties, initially developed by sponsor S.F. Holding Co., Ltd. (SFH), a leading integrated PRC logistics provider listed on the Shenzhen and Hong Kong Stock Exchanges and controlling unitholder of SF REIT, feature high specifications including direct ramp access, large floorplates, heavy floor loading, temperature-controlled areas and sustainability enhancements such as rooftop solar photovoltaic systems, EV chargers and green certifications like LEED Gold, BEAM Plus Excellent, China Green Warehouses and a 5-star Global Real Estate Sustainability Benchmark rating; operations span Hong Kong and key Mainland China logistics hubs near airports, seaports and highways, with SFH Group tenants occupying 80.3% of total 427,657 sq.m. GLA, contributing 75.1% of revenue, and overall occupancy stable at 98.0% as at 31 December 2024. SF REIT Asset Management Limited serves as manager, externally managed with DB Trustees (Hong Kong) Limited as trustee, and headquarters at Room 2002, 20/F, Lee Garden Six, 111 Leighton Road, Causeway Bay, Hong Kong. In 2024, SF REIT executed key capital management initiatives including an August refinancing of its HK$2,159 million sustainability-linked term loan maturing September 2027 (with two-year extension option) at HIBOR plus 0.70% (down 40 basis points), a HK$250 million revolving facility at HIBOR plus 0.60% (down 25 basis points), and a HK$200 million unsecured sustainability-linked revolving facility, all secured primarily by the Tsing Yi Property; restructured HK$900 million interest rate swaps to align with the new tenor at a weighted average 2.19%; renegotiated RMB loans comprising the Changsha RMB275 million facility to 3.50% (down 0.90%), Foshan/Wuhu RMB220 million to 2.90% (down 1.05%), lowering all-in borrowing costs to a weighted average 4.22%; renewed all 2024 expiring leases covering 36,714 sq.m. GLA while securing annual rental step-ups in SFH leases expiring 2026; appointed Colliers International (Hong Kong) Limited as principal valuer replacing Jones Lang LaSalle after its three-year term; and reported revenue of HK$451.4 million (up 2.4%), net property income HK$361.2 million (up 1.5%), distributable income HK$234.4 million (up 1.9%) and total distribution per unit HK27.40 cents at 95% payout, with portfolio value HK$6,731.4 million and gearing 35.9% as at 31 December 2024.