MACQUARIE MEAG Prime Reit (MMP REIT) is a Singapore-based real estate investment trust (Reit) investing primarily in real estate used for retail and office purposes, both in Singapore and overseas.
It is the only S-Reit to own two landmark properties on Singapore's prime shopping street Orchard Road with a 74.23 per cent strata title interest in Wisma Atria and a 27.23 per cent interest in Ngee Ann City.
Since listing in September 2005, MMP REIT has consistently outperformed IPO projections. Total absolute returns for unitholders who have held MMP REIT units since its listing stand at 35 per cent.
In May, the Reit acquired seven quality properties located in the prime areas of Tokyo, Japan for $182.5 million.
In August, MMP REIT completed the acquisition of a 100 per cent interest in a premier retail property in Chengdu, China for $70 million.
These recent acquisitions mark the first stage in delivering on its regional strategy to diversify income and the Reit's geographical footprint.
New acquisitions will be sourced through its network which includes existing partners, agents and Macquarie Bank, MMP REIT's financial sponsor. These acquisitions could be secured through direct and indirect acquisitions, joint ventures, co-investment with Macquarie Bank-linked funds and development. MMP REIT is managed by Macquarie Pacific Star Prime REIT Management Limited, a joint venture between Macquarie Bank Limited, MEAG MUNICH ERGO AssetManagement GmbH and Investmore Enterprises Ltd.
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