Stake changes: Hazelview Securities acquires more Daiwa House Logistics Trust units

Japanese 1,000 yen notesJapanese 1,000 yen notes

Singapore substantial shareholder change announced on Wednesday, 1 December 2021: Daiwa House Logistics Trust.

Daiwa House Logistics Trust

Hazelview Securities acquired 3.48 million units of Daiwa House Logistics Trust in the market for S$2.8 million on 26 November, the day the trust’s initial public offering (IPO) began trading on SGX, according to a filing to the exchange on Wednesday.

The acquisition of the units took Hazelview Securities’ direct interest in the trust to 7.01 percent from 6.5 percent previously, the filing said.

Hazelview Securities was a cornerstone investor in the IPO, in which it subscribed for 43.85 million units.

Units of Daiwa House Logistics Trust (DHLT) ended Wednesday flat at S$0.795, down a tad from its S$0.80 IPO price.

Hazelview Securities, previously called Timbercreek Investment Management, is based in Canada. It collectively manages more than US$8.5 billion in assets, according to data on the Portfolio Management Association of Canada (PMAC)’s website.

It manages both private individual and institutional investor accounts, with client minimums of US$150,000 and US$5 million, respectively, the data show.

According to its filings with the U.S. SEC, as of end-September, Hazelview Securities’ other holdings include Prologis, Public Storage, Digital Realty Trust, Extra Space Storage, Park Hotels & Resources, Vornado Realty, Medical Properties Trust and Simon Property Group.