Affordable leased housing REITS project accelerated: the first batch of projects was enthusiastically subscribed for institutional investors

21st Century Business Herald reporter Yangping Shenzhen Report

The REITS project of affordable leased housing is accelerating.

On August 8th, the first batch of affordable rental housing REITs products disclosed the "Fund Share Procting for Publication" (hereinafter referred to as the "Announcement")

It is understood that the first two singles products -Zhongjin Xiamen Anju REIT and Hongtu Innovation Shenzhen Talent Anju REIT underlying assets completed the online investor inquiry on August 5th. Breight on August 17.

From the perspective of the "Announcement", institutional investors are very enthusiastic about participating in this type of public offering REITs. Among them, the red earth Shenzhen Anju REIT online inquiry subscription multiples reached 133 times, and the proposed number of purchases under the net set of Zhongjin Xiamen Anju REIT is the initial offering of the initial offering. Under 108.96 times.

The first batch of rental houses REITs completed the inquiry

Since April 2020, my country's infrastructure public offering REITs market has officially launched; in May this year, it officially expanded the pilot scope to the field of affordable rental housing.

Three months later, the first batch of affordable rental housing REITs successfully completed the inquiry.

Market participants believe that the approval and distribution of the first batch of affordable rental housing REITs plays a good role in promoting the market -oriented and professional transformation of affordable rental housing service models.

Among the first batch of projects, the underlying assets of the Red Earth Shenzhen Anju REIT are the affordable rental housing project located in the core city of Shenzhen, the core city of the Guangdong -Hong Kong -Macao Greater Bay Area. In 2023, 4.24%and 4.25%were respectively.

According to the "Announcement", during the inquiry process, the Red Earth Shenzhen Anju REIT received a total of 83 online investors managed by the 252 distribution targets for inquiry quotation information. The initial online sales share was 133.03 times.

The quotation range is 2.270/copy -2.610 yuan/serving. The median quotation of all offline investors is 2.610 yuan/version, the weighted average is 2.600 yuan/copy, and the final offer price is 2.484 yuan/copy.

From the perspective of the industry, the red earth Shenzhen Anju REIT online inquiry subscription multiple is 133 times, which greatly exceeds the previously issued infrastructure REITs inquiry subscription multiples, which reflects the support of institutional investors for the field of guarantee rental housing and the project's project. Acknowledge.

Zhongjin Xiamen Anju REIT was also sought after by investors. It is understood that the underlying assets of Zhongjin Xiamen Anju REIT are the two affordable rental housing projects of Garden Bo Apartment and Qiqi Apartment. It is expected that the cash flow rate is 4.33%(annualized) from April 2022 and 2023, respectively. , 4.34%.

Judging from the inquiry situation, CICC Xiamen Anju REIT received a total of 69 online investors managed by the 220 distribution objects of the inquiry quotation information. 108.96 times, the quotation range is 2.485 yuan/version -2.695 yuan/conclusion, the median quotation of all offline investors is 2.6950 yuan/version, the weighted average is 2.6856 yuan/version, and the final subscription price is 2.600 yuan/conclusion Essence

Tianfeng Securities analyst Han Xiao pointed out: "The first batch of affordable leased housing REITs accelerated the landing, which reflects the diversity of the type of REITs underlying assets. In the future, there may be more affordable rental housing REITs."

Rental housing REITS project accelerate

It is worth mentioning that, on the occasion of the Inquiry of the Affordable Rental Housing REITs of the Red Turkey Innovation and the CICC Fund, the third single in the market has a guaranteed rental housing product, Huaxia Beijing Security Housing Center Rental Rent (hereinafter referred to as the abbreviation "Huaxia Beijing Affordable House REIT") has been officially approved.

According to the data, the original equity of the Huaxia Beijing Affordable Housing REIT is Beijing Security Housing Center Co., Ltd., and its underlying assets are Wenlong Home and Xiyue Shang County, two public rental housing projects located in Haidian and Chaoyang District, Beijing. The total construction area of ​​the two projects is about 112,800 square meters, and there are 2168 sets of rentable houses, with a total valuation of about 1.151 billion yuan.

According to the fundraising, the fundraising funds were raised by 1.152 billion yuan. The project's cash distribution rates from the fund from September 1, 2022 to December 31, 2022 and 2023 were about 4.30%(annualized) and 4.31%, respectively.

It is understood that more than 90%of the net recovery funds raised by the project will be mainly used for the construction of the remaining housing projects of the Beijing Coking Plant or other leased housing projects that have been approved. The project plans to build 672 sets of resettlement houses, 1869 public rental housing, and build public service supporting facilities such as middle schools, kindergartens and bus stations.

From the perspective of market participants, the acceleration pilot of affordable rental housing REITs is inseparable from the direction instructions in supervision and policies. On July 29, the Securities Regulatory Commission's mid -year supervision work conference and inspection and rectification were normalized long -term mobilization in 2022. The deployment meeting pointed out that it is necessary to steadily expand the scope of REITs, accelerate the promotion of normalized issuance, and promote the activation of stock assets.

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