Unveiling First REIT 2.0: Our New Growth Strategy
4
Consistent with First REIT 2.0 Strategy and Reflects the Sponsor's Commitment to First REIT
REPOSITIONED FOR GROWTH
The Proposed Acquisition is First REIT's maiden entry into the highly attractive Japan nursing home market and is consistent with the First REIT 2.0 Strategy
In-line with First REIT 2.0 Strategy
FIRST REIT 2.0
ASIA'S PREMIER HEALTHCARE TRUST
Diversify into Developed Markets
Reduce geographical and tenant concentration risk; target to
reduce Indonesia assets to <50% of portfolio in 3-5 years
Platform in Japan for Further Growth
Debt Headroom Provides Capital for Growth
(S$mm)
100% debt funded
acquisition
headroom
I
20
$
Reshape Portfolio for Capital Efficient Growth
Recycle capital from non-core, non-healthcare assets
206.0
I
358.0
I
477.2 (¹)
477.2(1)
477.2 (¹)
Strengthen Capital Structure to Remain Resilient
Diversify funding sources and continue to optimise financial
position
Continue to Pivot to Ride Megatrends
ESG, ageing population demographics and growth drivers
Post Acquisition
(36.4% Leverage Ratio)
Source: Factset (as of 6 December 2021), company information
(1)
Debt is presented net of transaction costs
45% Leverage Limit
Pro Forma 1H 2021 Debt
50% Leverage Limit
Debt Headroom
FIRST" REIT
ASIA'S PREMIER HEALTHCARE TRUSTView entire presentation