According to a report published by Lyon, Lingzhan Real Estate Fund announced the sale of 50% interest in the Sydney Market Street 100 trust structure to an entity owned by Aware Super for 225.9 million Australian dollars. The transaction cost was equivalent to 50% of the property's independent assessed value of A$451.8 million as of the end of May 2026. Although the execution time was earlier than expected, it was in line with management's established strategy to divest 5% to 10% of non-core assets in the portfolio. The bank indicated that Lingzhan currently plans to use the net proceeds to repurchase fund units and reinvest in the core retail property portfolio in the Asia-Pacific region. This repurchase will complement the ongoing repurchase plan supported by the sale of Swing By @Thomson Plaza, and is believed to provide further support for the fund's unit price. Lyon maintained a leading target price of HK$48.5 and a “outperforming the market” rating, and indicated that the stock remains one of its preferred stocks.
Zhitongcaijing·07/22/2026 07:49:09
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According to a report published by Lyon, Lingzhan Real Estate Fund announced the sale of 50% interest in the Sydney Market Street 100 trust structure to an entity owned by Aware Super for 225.9 million Australian dollars. The transaction cost was equivalent to 50% of the property's independent assessed value of A$451.8 million as of the end of May 2026. Although the execution time was earlier than expected, it was in line with management's established strategy to divest 5% to 10% of non-core assets in the portfolio. The bank indicated that Lingzhan currently plans to use the net proceeds to repurchase fund units and reinvest in the core retail property portfolio in the Asia-Pacific region. This repurchase will complement the ongoing repurchase plan supported by the sale of Swing By @Thomson Plaza, and is believed to provide further support for the fund's unit price. Lyon maintained a leading target price of HK$48.5 and a “outperforming the market” rating, and indicated that the stock remains one of its preferred stocks.