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CapitaLand Investment Ltd 9CI

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Economic Moat

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Capital Allocation

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CapitaLand Investment Executing Swiftly Post Listing

Michael Wu, CAIA Senior Equity Analyst

Analyst Note

| Michael Wu, CAIA |

It was a short quarter for CapitaLand Investment, or CLI, since its listing in September, but the company is executing on its strategy in growing its funds management platform, its lodging business, and in recycling capital. Along with a brief third-quarter business update, CLI is expected to launch two Japan private funds, holding two commercial properties in Japan at a valuation of SGD 537.7 million. Each of the funds hold a 50% stake in Yokohama Blue Avenue, previously owned by CLI. In addition, one of the funds is expected to hold a 20% stake in Shinjuku Front Tower. In line with one positive from CLI’s restructuring, CLI is only retaining a minority interest of 4.98% in the fund. The lower level of commitment allows CLI to redirect capital for growth initiatives. Similarly, for a newly launched Korea fund, CLI will hold a 5% stake and the balance will be from partner PGIM Real Estate. The fund will acquire two cold storage logistics properties with SGD 150.3 million under management. Both properties are operating with long-term master leases to a food wholesaler Foodist.

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Company Profile

Business Description

CapitaLand Investment, or CLI, is a Singapore-headquartered real estate investment management company, with operations in 30 countries. After restructuring of the company in 2021, the real estate development capabilities were privatized into CapitaLand Development, or CLD, while CLI retained the funds management, lodging management and real estate investments businesses. CLI’s real estate investments business includes large minority stakes in listed vehicles, and as general partners in private real estate funds. CLI has management rights over the listed vehicles and private funds. The group’s portfolio consists of traditional real estate property types in offices, retail malls, and lodging, and property types benefiting from the new economy in logistics, business parks and data centers.

Contact
168 Robinson Road, No.30-01 Capital Tower
Singapore, 068912, Singapore
T +65 67132888
Sector Real Estate
Industry Real Estate Services
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 397