WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust, or WHART, has announced an additional investment in the land and warehouse buildings of the WGCL International Distribution Center project, valued at no more than 2,507.60 million baht. The facility is an international-standard built-to-suit distribution center with approximately 99,390 square meters of space in the strategic EEC location of Map Ta Phut, and comes with a 30-year long-term lease with a leading tenant from the first day of investment. Miss Jittisa Charoenpanich, an executive in investment banking at Kasikornbank, in her capacity as financial advisor and underwriter of WHART, said that following the additional investment, WHART expects to pay a distribution of approximately 0.783 baht per unit, based on estimated performance for the 12-month period from 1 October to 30 September 2570, which has been reviewed for assurance by PricewaterhouseCoopers ABAS Company Limited, or an estimated distribution yield of approximately 7.39% per year at the final offering price of 10.60 baht per unit. In the second quarter of 2569, the trust paid a distribution of 0.1930 baht per unit and received an "A" credit rating with a Stable outlook from TRIS Rating. Mr. Supasit Sittiseth, Chief Executive Officer of WHA Real Estate Management Company Limited, in his capacity as the trust's manager, stated that the warehouse and distribution center business continues to grow in line with supply chains and e-commerce. After this investment, WHART will have more than 2 million square meters of leasable area under management and total asset value of more than 56,000 million baht.
Kasikornbank Public Company LimitedKasikornbank acts as financial advisor and underwriter for WHART's 2,507.60 million baht additional investment, a passing advisory role rather than a company-specific financial event.
WHA Real Estate Management, as WHART's manager, oversees the 2,507.60 million baht warehouse acquisition expanding leasable area past 2 million sqm and total assets over 56,000 million baht.
