Saizen REIT: Divestment of Club House Kikugaoka.

Club House Kikugaoka

Saizen REIT has divested another property, Club House Kikugaoka, and this one is in Kitakyushu, was built in March 1991 and comprises 25 residential units and 26 car parking lots. It was sold to an independent private investor for a cash consideration of JPY 230,000,000 (S$3.6 million). The sale price was at the property's exact valuation.

The loan of YK Shintoku went into maturity default in November 2009. YK Shintoku is currently carrying out a progressive and partial sale of its properties to reduce the absolute amount of its loan so as to make the refinancing of the loan more acceptable to lenders.

Saizen REIT: Insider buying more at 14c/unit.

Argyle Street Management Holdings Limited, on 24 March 2011, bought 1,275,000 units of Saizen REIT at 14c a piece. This increased their share from 15.471 % to 15.579 % (from 181,761,217 units to 183,036,217 units). See notice here.

I am sure quite a few people are considering increasing their stakes in this REIT but they could be holding back for fear of the uncertain situation at the Fukushima nuclear power plant. It is, of course, good to be cautious and being able to sleep a bit more peacefully at night is priceless. As long as we do not panic, I believe we can't go far wrong.