DoubleDragon finalizes P51-B asset for REIT IPO listing

first_img3. good tenant mix All of the proceeds from the listing will be reinvested in the Philippines. The intended DD Meridian Park (DDMP) REIT will consist of seven buildings with a total area of 248,349 square meters. 4. capable property management DOUBLEDRAGON Properties Corp. identified its first tranche of REIT assets comprising the leasable properties of DD Meridian Park. 2. reasonable yield above a bond coupon “We believe all of these elements are present in DoubleDragon’s leasable portfolio,” said Sia. The REIT proceeds will be enough to construct about 450,000 square meters of building floor area which will further significantly increase the leasable portfolio and recurring rental revenues of the company in the near term. 5. good pipeline of assets for future infusion In addition to the seven buildings that will form the first tranche of DDMP REIT, another two more buildings are planned to be infused in the DDMP REIT after about two to three years as these two other buildings are still currently under construction, also located in the DD Meridian Park complex. DD Meridian Park complex sits on a five-hectare prime commercial property at the corner of Macapagal Avenue and EDSA Extension at the Bay Area, Pasay City, Metro Manila. The project is LEED Gold certified. DoubleDragon Properties Corp. identified its first tranche of REIT assets comprising the leasable properties of DD Meridian Park. The intended DD Meridian Park (DDMP) REIT will consist of seven buildings with a total area of 248,349 square meters. The REIT listing will enable the total equity of DoubleDragon to surpass the P50 billion mark. 1. asset basket in a prime location that is seen to remain relevant in the next 30-50 years at least According to DoubleDragon chairman Edgar “Injap” Sia II, other than the safeguards already indicated in the REIT listing rules, REIT investors generally want five elements present: DoubleDragon currently has 803,000 square meters in its portfolio and plans to list via REIT about 200,000 to 250,000 square meters annually from 2020 to 2025, which will enable the company to unlock the values of its prime leasable assets and significantly strengthen its equity base year on year moving forward. DD Meridian Park complex sits on a five-hectare prime commercial property at the corner of Macapagal Avenue and EDSA Extension at the Bay Area, Pasay City, Metro Manila. The project is LEED Gold certified, walking distance to the LRT/MRT station and houses prominent tenants including the head office of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) as well as the head office of the Philippine Economic Zone Authority (PEZA).  The company is preparing to file its REIT listing application with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) on August 2020 and aims to list DDMP REIT by this year, on October 2020. The estimated value of the basket of REIT assets stands at P50,889,814,608 and DoubleDragon expects to generate P16,966,604,869 of proceeds from the planned REIT listing representing an offer of 33.33 percent of the selected REIT assets, which is the minimum public float based on the revised REIT listing rules.  As of March 31, 2020, DoubleDragon’s Consolidated Total Assets stood at P115.32 Billion while Total Equity is at P44.50 billion. Cash position stands at P5.30 billion. “The REIT valuation of US$1 billion, we believe, is an attractive size that would appeal to a strong pool of both foreign and local REIT investors,” said DoubleDragon Chief Investment Officer Hannah Yulo-Luccini. “REITs are a good way to recycle capital for expansion of the Company’s portfolio and raise equity to further boost its balance sheet. Since the offer will only cover 33.33% of the REIT basket, DoubleDragon will retain majority of the REIT assets so it will remain consolidated in the Company’s balance sheet,” added Yulo-Luccini./PNlast_img read more

Football closes semester with spring game

first_imgThe football team reached the culmination of the spring ball portion of its offseason this Saturday when it played its annual Spring Game. In front of a reported 14,781 fans at the Los Angeles Memorial Coliseum, the Trojans participated in a situationally focused scrimmage that put the team in game-specific scenarios. The spring game opened up with a 7-on-7 pass-rush drill, which was followed by a run-pass option period, a “backed-up” offensive situation, an “open field, move the ball” period and a red zone drill between the offense and defense. There was no score kept for the game. USC ran a total of 62 offensive plays Saturday, combining the situational and live-play sequences. The Trojans also gave redshirt freshman kicker Michael Brown the opportunity to kick seven field goal attempts (he converted on five of them, including a 50-yarder). On the day, redshirt sophomore quarterback Sam Darnold completed four of six passing attempts for a total of 58 yards. During the offense’s “backed up” period, Darnold made an impressive play, escaping the pocket, rolling out to his right before connecting with redshirt freshman receiver Velus Jones for 21 yards down the sideline. “Last year [in the spring], I know that I was competing with Max [Browne] for the starting sport, and that made me a whole lot better,” Darnold said. “This year though, I’ve needed to do a better job of competing with myself to make myself better. It’s something I know I can do, and I need to get better at [competing with myself]. That’s been the key takeaway from this spring.” Also throwing the ball for the Trojans were redshirt freshman quarterback Matt Fink and early enrollee Jack Sears. The two are currently locked in a battle for the team’s backup quarterback role, and both had the opportunity to lead the offense through game-specific situations. Fink finished the day with 47 passing yards total, connecting on five of nine pass attempts. On the first play of the red zone period, Fink connected with redshirt freshman receiver Tyler Vaughns for a 20-yard passing score. This was the only passing touchdown thrown by any quarterback. Sears completed three of seven pass attempts for 32 yards on Saturday. Throughout the spring game, Sears put his mobility on display. Rolling out to his right, Sears was able to escape pressure and connect with redshirt freshman receiver Jake Russell for 13 yards. “I thought that both [Fink and Sears] did a nice job,” head coach Clay Helton said. “I’m impressed with [Fink’s] overall spring. It was really neat to see [Sears] in this situation. I mean, he should be at prom right now and he’s at the Coliseum throwing the ball around, getting it to the right places.  Both kids did a nice job today of getting it to the right guy.”Expected to be the leading workhorse for this Trojans running back corps, junior Ronald Jones II carried the ball four times Saturday for a total of eight yards. The Trojans’ top performer out of the tailback slot was redshirt freshman running back Vavae Malepeai. Rushing for 36 yards on eight carries, Malepeai showed impressive vision in the open field Saturday, as he was able to break off several longer runs. Malepeai, who had his freshman season cut short due to a shoulder blade injury, had the longest rush of the day from a running back with 14 yards. Redshirt junior fullback Reuben Peters recorded the only rushing touchdown off of a 6-yard score. The Trojans’ leading receiver was redshirt freshman Tyler Vaughns, who finished the game with three receptions for 48 yards. Vaughns also had the only touchdown reception of the game, which was thrown by Fink.Another notable wideout for USC was sophomore Michael Pittman, who reeled in three catches for 30 receiving yards. Pittman and Vaughns both notched significant receptions during the “backed-up” period in which the Trojan offense was forced to operate deep in its own territory, starting from its own 2-yard line.Working with the first team defense on Saturday was freshman early enrollee defensive tackle Marlon Tuipulotu. With four tackles, including one for a loss, Tuipulotu was one of the bright spots for the USC defense throughout the game. Other Trojans with four tackles defensively included junior linebacker Cameron Smith and redshirt senior safety Matt Lopes.Sophomore defensive end Oluwole Betiku Jr. mirrored Tuipulotu’s defensive production, as he finished Saturday with four tackles, one resulting in a loss of yardage for the offense.The defense was able to put together a clean showing on Saturday, as they committed no penalties for the entirety of the spring game. The USC offense was called for three penalties during the game.“I was very pleasantly pleased with the defense,” Helton said. “How they performed, how they communicated. They just look like they’re playing incredibly fast right now. What I’ve really been impressed by is that, not just our ones, but our twos are looking very solid.”Members of the 2016-2017 men’s basketball team were honored during the game at the Coliseum for their recent 26-win season, the most in school history. Additionally, USC’s 2016 football team was presented with their Rose Bowl rings and members of the Trojans’ 2017 recruiting class were also in attendance and announced to fans. Following the conclusion of the spring game, several USC players and coaches remained at the Coliseum to meet with fans and sign autographs.last_img read more

Messi breaks another La Liga goals record with stunning display against Espanyol

first_imgLionel Messi wrote a fresh chapter in the La Liga history books as the Barcelona captain set another record in his side’s Catalan derby clash, a 4-0 win away to Espanyol.Messi opened the scoring with a brilliant free-kick at RCDE Stadium on Saturday, with Ernesto Valverde’s men looking to open up a three-point lead atop the table. With his team three points clear at the top, Messi praised their performance, saying: “We came out very strong to dominate the match from the start.”We kept the ball, we knew how to take it from the rival and Espanyol, without the ball, they suffer.”They press high and we were superior at all times.” That goal took him up to 10 for the season in the league, making him the first player to enter double figures in 13 consecutive La Liga seasons.10 – Lionel Messi is the only player in @LaLigaEN history to have scored 10+ goals in 13 consecutive seasons. Extra-terrestrial.— OptaJose (@OptaJose) December 8, 2018Messi followed up with another free-kick goal in the 65th minute, his 11th strike of the season and the ninth set-piece he has scored this calendar year in the Spanish top flight, three more than any team in Europe’s top-five leagues have collectively managed in 2018. It is the first time in his career he has scored two free-kicks in a La Liga match.”I try to follow a routine a bit, trying to do it the same way so that it goes well again,” Messi told Vamos.”Other times I have a lot of free-kicks and I do not put them in. I was lucky enough to get two in a row.”The Argentina star finished fifth in this week’s Ballon d’Or voting behind Kylian Mbappe, Antoine Griezmann, Cristiano Ronaldo and winner Luka Modric.The 31-year-old also got an assist in Saturday’s clash, setting up Ousmane Dembele with a cross as the French winger doubled his side’s lead.1 – Barcelona’s Lionel Messi has scored two direct free-kick goals in a La Liga game for the first time ever. Spectacular.— OptaJose (@OptaJose) December 8, 2018Messi almost created another goal when a combination with Luis Suarez saw him send the ball flying into the Uruguayan’s path in the box, but his effort hit the post.It has taken Messi just 17 games in all competitions to get 17 goals and 10 assists as Barca sit top of the domestic table and are through to the last-16 of the Champions League.last_img read more

The International Handball Tournament in Tuzla

first_img(Source: Handball Club “Sloboda Solana” today will host the International Memorial tournament which is played in the honor of former players of double champions of B&H. At this year’s tournament will show their strengths at the semi-finals duels Metaloplastika from Šabac and Spačva from Vinkovci and Gradačac and Slobona Solana. The tournament will be played in the honor of Jasminko Kovčić – Tacko, a former goalkeeper of Sloboda Solana and journalist from Tuzla, Alis Hadžihrustić who was killed in the shelling of Tuzla, Ibrahim Nukić – Baškan, a former player and club director and Igor Mujkanović – Mujko, who tragically lost his life in one of the trainings of Sloboda Solana.“We are looking forward to coming at the Metaloplastika double champions of Europe, but also to all our guests. We are expecting a tough tournament, and my boys will give their best to qualify for the finals“, said the coach of Sloboda Solana Mirza Bulić.The tournament will officially open by the Mayor of the Municipality today, after the first semi-final match, and the teams in the afternoon will visit the Panonian Lake where there will be lunch of honor. In the evening they will play the match for third place and the final and will be declared the best player, goalkeeper and the scorer of the tournament.last_img read more