Investor Presentaiton
2
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Significant Milestone of S$337.0m Non-Core Portfolio Divestment Reducing
Gearing While Awaiting Investment Opportunities Amidst Asset Repricing
Announced divestments of seven non-core assets aggregating S$337.0 million (1) on 23 June 2023
☐
Achieved significant milestone in Capital Recycling and Portfolio Rejuvenation Strategy, with gearing reducing to 33.6% (2)
Asset
3 Pioneer Sector 3
4 & 6 Clementi
Loop
6 Chin Bee Avenue
21 Changi North
Way
30 Toh Guan Road 22 Chin Bee Drive
51 Musgrave Road,
Australia
Total
Sale Price (S$m)
95.0
37.6
93.0
30.1
57.8
13.8
9.7
(A$10.8m)
337.0
Premium /
(Discount) to
Valuation
Remaining Land
Lease (years)
Expected
Completion
3Q2023
CBRE appointed to manage price discovery process.
Weighted Average Lease Expiry
(in years)
3.2%
3.3%
E-LOG as at 31 March
2023
Post the Other
Divestments and
Portfolio Divestment (3)
(5.1%)
Portfolio Sale
6.2%
2.4%
(4.5%)
25.7
12.4
Freehold
Weighted Average
27.2
(average)
4Q2023
4Q2023
3Q2023
3Q2023
3Q2023
3Q2023
37.9
Weighted Average Land Lease Remaining STB Proportion of E-LOG's Portfolio
(in years)
Contribution of Top 15 Tenants
23.3%
35.1%
37.1
E-LOG as at 31 March
2023
Post the Other
Divestments and
Portfolio Divestment (3)
21.7%
34.8%
E-LOG as at 31 March
2023
Post the Other
Divestments and
Portfolio Divestment
E-LOG as at 31 March
2023
(3)
Post the Other
Divestments and
Portfolio Divestment
Notes: (1) Refer to announcements dated 23 June 2023 titled "Proposed Divestment of a Portfolio of 5 Assets with an Aggregate Sale Consideration of S$313.5 million" and "Divestment Of 22 Chin Bee Drive In
ESR-LOGOS Singapore And 51 Musgrave Road In Australia At 6.2% And 2.4% Premium To Valuation Respectively". (2) On a FY2022 pro forma basis, including (i) the Equity Fund Raising and the divestment of 49 Pandan Road,
REIT
assuming the net proceeds from the Equity Fund Raising and the divestment of 49 Pandan Road, together with the net proceeds from the divestments announced on 23 June 2023, were fully used to repay existing
debt and (ii) the redemption of perpetual securities completed on 1 February 2023. (3) Other Divestments comprises of 22 Chin Bee Drive, Singapore and 51 Musgrave Road, Australia. Portfolio Divestment comprises
of 3 Pioneer Sector 3, 4 & 6 Clementi Loop, 6 Chin Bee Avenue, 21 Changi North Way and 30 Toh Guan Road
(3)
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