Broaden financing channels, the first batch of three "rental housing" public offer REITs will be released

China Times (chinatimes.net.cn) reporter Chen Feng, a reporter Zhang Mei Beijing reported

On August 16th, the first batch of three -guaranteed rental housing REITs, which received much attention from the market, was released simultaneously.

The 3 guarantee rental housing REITs are Zhongjinjin Xiamen Anju REIT, Red Earth Shenzhen Anju REIT, and Huaxia Beijing Affordable Housing REIT. "Huaxia Times" reporter learned that the total share of the three REITs was 500 million. The minimum public investor of the public offerings requires only 1,000 yuan, which can subscribe for fund shares through on -site or off -site methods. According to the calculation of reporters, the total amount of fundraising for the public on the public for the public is about 450 million yuan.

"Leasing House" public offer REITs debut

Infrastructure REITs is REITs, which uses infrastructure as the underlying assets. It collects investor funds through the issue of fund shares, invests in infrastructure projects, and distributes the rent or income generated by the underlying assets to investors.

Different from the usual securities investment funds invest in typical securities products such as stocks or bonds, the product structure of "public fund+infrastructure asset support securities" is used for affordable leased housing REITs. Infrastructure assets support securities.

The announcement shows that the initial sales share of CICC Xiamen Anju REIT is 312.35 million, accounting for 62.47%of the total number of sales share. The initial sales share of the Internet is 131355,000, the public initial release share is 56295,000 (11.3%of the total release), the subscription price is 2.6 yuan/, and the total scale of fundraising is 1.3 billion yuan. The manager of the proposed fund is Lu Jingjie, Li Yaoguang, and Chen Tao. The target of Zhongjin Xiamen Anju REIT is Gardenbo Apartment and Qiqi Apartment. It is two affordable rental housing projects located in Jimei District, Xiamen.

Red earth Shenzhen Anju REIT is a public raising closed infrastructure securities investment fund. The initial strategic distribution fund shares determined by the fund manager are 300 million yuan, and the number of fund shares for the initial release of the Internet is 140 million. The number of fund shares is 0.60 million copies, the subscription price is 2.484 yuan/copy, and the total amount of fundraising is expected to be 1.242 billion yuan. The manager of the proposed fund is Ren Ningqin, Pi Shanshan, and Pei Ying. The investment target of the Red Earth Shenzhen Anju REIT is 4 projects including Anju Baiquan Pavilion, Anju Jinyuan, Poly Champagne, and Phoenix Mansion. The project is located in the core area or core area of ​​Shenzhen.

Huaxia Beijing Security Housing REIT is planned to sell 60 million copies to the public. It is 12%of the total release. The subscribing price is 2.510 yuan/version. The total scale of fundraising is 1.255 billion yuan. Why do you want to be the middle value of the fund, Yue Yang, Yuan Zhongyuan. The underlying assets of Jingbao REIT are two public rental housing projects in Wenlong Homeland, Haidian District, Beijing and Xiyue Shang County, Chaoyang District. It is a representative public rental housing project in Beijing.

Relevant staff of CICC Fund told the reporter of Huaxia Times that public offering REITs can create a sustainable affordable rental housing investment and financing model through the capital market and improve the effective supply of affordable rental housing. As the manager of the public offerings REITS fund, China Gold Fund will strengthen investment and exploration in the field of public offerings, actively explore the types of different infrastructure assets, strive to achieve continuous and steady operation of assets, and help the public fund industry high -quality development.

Why invest in Shenzhen affordable rental housing? The Red Earth Innovation Fund stated that from the perspective of supply and management, affordable leased housing has strong policy and functional attributes. Shenzhen supplies affordable rental housing with limited subjects. ) Construction of affordable rental housing for the main construction. From the perspective of demand, Shenzhen's affordable rental housing is provided for qualified new citizens and young people, and the group of rental objects is relatively wide. Therefore, the marketization of the demand for affordable leasing housing in Shenzhen is high.

Live the incremental existing assets

Regarding the development of REITs in China, Huaxia Fund said that my country has a huge infrastructure stock market. As of June 2021, my country's cumulative infrastructure investment reached 17.07 trillion yuan, providing REITs with a wealth of underlying investment assets. From the perspective of the incremental market, although it has been built for many years, my country's infrastructure conditions have been significantly improved. At the same time, new infrastructure areas such as 5G construction and data centers are working hard. In the future, my country's new and old infrastructure will have more room for development.

Yan Yuejin, the research director of the Think Tank Center of the E -House Research Institute, told the reporter of the Huaxia Times that REITs of affordable rental housing is an innovation in affordable rental housing. This type of REITS helps further promote the healthy development of affordable rental housing, improve the old appearance of the high narrow appearance of affordable rental housing, and make the financing ideas of affordable rental housing more open. At the same time, affordable rental housing REITs is a product combined with real estate and funds, so it has the advantages of real estate and fund financial products.

Song Xin, general manager of the Real Estate Investment Department of AVIC Fund, told the reporter of the Huaxia Times that the sale of the three guarantee rental housing REITs indicates that the first year of my country's affordable housing REITs will be officially opened. The issuance of the affordable housing REITs, the first is to effectively increase the incremental stock assets, accelerate the investment scale and speed of affordable leased housing, and serve the investment and construction of the housing security system; Third, the market -oriented operating mechanism assists the government to supervise and manage, and promote the improvement of enterprises to improve quality and efficiency. "Beijing, Shenzhen, and Xiamen are relatively high -quality security housing assets and have investment value. At present, there are many guarantee housing REITs in the declaration and distribution stage. In the future, there will be more affordable housing REITs." Song Xin said.

In the marketing Q&A of a number of fund companies, investors need to pay attention to infrastructure funds such as "liquidity risk" and "new types of funds in the expected risk", and the inherent risks of itself, as well as "the risk of changes in the demand for the leasing market" The risk of project investment cannot cover the risk of evaluation value "related to infrastructure projects.

Editor: Editor Yan Hui: Xia Shencha

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