Stake changes: Hazelview further trims Daiwa House Logistics Trust interest

Japanese 1,000 yen notesJapanese 1,000 yen notes

Singapore substantial shareholder changes: Daiwa House Logistics Trust.

Daiwa House Logistics Trust

Hazelview Securities sold 6,786,100 units of Daiwa House Logistics Trust in the market for S$5.496 million on 19 January, according to a filing to the exchange on Thursday.

The disposal took Hazelview Securities’ direct interest in the trust to 5.98 percent from 6.99 percent previously, the filing said.

Hazelview Securities was a cornerstone investor in the trust’s initial public offering (IPO) in November, in which it subscribed for 43.85 million units. In early December, it also acquired 3.48 million units in the market for S$2.8 million on 26 November.

In mid-December, however, Hazelview Securities sold 157,800 units. 

Units of Daiwa House Logistics Trust (DHLT) ended Thursday at S$0.815, up a tad from its S$0.80 IPO price, but unchanged on the day. The units have been fairly stable near the IPO price since listing on 26 November.

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.

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