Listed on the Singapore Exchange Securities Trading Limited on 11 December 2006, First REIT is Singapore's first healthcare real estate investment trust. Its investment strategy encompasses a diverse portfolio of yield-accretive healthcare and healthcare-related real-estate assets in Asia.
Over the years, the Trust has successfully built a high quality and diversified asset portfolio of 20 properties comprising 16 located in Indonesia, three in Singapore and one in South Korea. The properties are collectively valued at over S$939.7 million. The stable income-producing portfolio covers the full scale of healthcare real estate, including hospitals, nursing homes, rehabilitation centre and other healthcare-related facilities.
First REIT is managed by First REIT Management Limited, which is 60% owned by OUE Limited and 40% owned by OUE Lippo Healthcare Limited ("OUELH"). First REIT enjoys the right-of-first refusal ("ROFR") to the pipeline of hospitals in Indonesia by PT Lippo Karawaci Tbk ("Lippo Karawaci"), Indonesia's largest broad-based listed property company. First REIT also has another ROFR from OUELH, and the opportunities to tap on its growing healthcare network across Pan-Asia.
|Indonesia||Siloam Hospitals Buton & Lippo Plaza Buton||Siloam Hospitals Group & PT Lippo Malls Indonesia|
|Siloam Hospitals Kupang & Lippo Plaza Kupang|
|Siloam Hospitals Manado & Hotel Aryaduta Manado||Siloam Hospitals Group & The Aryaduta Hotel & Resort Group|
|Siloam Hospitals Yogyakarta||Siloam Hospitals Group|
|Siloam Hospitals Labuan Bajo|
|Siloam Hospitals Purwakarta|
|Siloam Hospitals Bali|
|Siloam Hospitals TB Simatupang|
|Siloam Hospitals Makassar|
|Mochtar Riady Comprehensive Cancer Centre|
|Siloam Hospitals Lippo Cikarang|
|Siloam Hospitals Lippo Village|
|Siloam Hospitals Kebon Jeruk|
|Siloam Hospitals Surabaya|
|Imperial Aryaduta Hotel & Country Club||The Aryaduta Hotel & Resort Group|
|Singapore||Pacific Healthcare Nursing Home @ Bukit Merah||Pacific Healthcare Nursing Home Pte. Ltd.|
|Pacific Healthcare Nursing Home II @ Bukit Panjang||Pacific Eldercare and Nursing Pte. Ltd.|
|The Lentor Residence||The Lentor Residence Pte. Ltd.|
|South Korea||Sarang Hospital||Private vendor|
Its unique and resilient asset class not only couples sound investment strategies and stable returns, but also offers exclusive investment opportunities as First REIT strives to expand its portfolio of healthcare assets in the Asian region.
Key data as at 31 December 2020
|Value of Assets-Under Management||S$939.7 million|
|Total GFA||358,551 sqm|
|Nearest date of rental renewals||2021|
|Maximum number of beds/saleable rooms||5,263|
|Weighted Average Lease Expiry (WALE)*||11.6 years|
|Weighted Average Age of Properties (WAAP)||13.5 years|
* The weighted average lease expiry (“WALE”) is 6.4 years as at 31 December 2020. Following the entry into the supplemental master lease agreements as announced on 11 March 2021 and 30 March 2021, the WALE is 11.6 years as at 31 December 2020.