Alpha Integrated REIT Secures Lender Support and Auditor Confidence – Key Developments for Investors

Overview

Alpha Integrated Real Estate Investment Trust (AI-REIT) has announced several pivotal developments that are highly relevant for shareholders and potential investors. These changes reflect both strengthened financial stability and strategic opportunities that could potentially impact AI-REIT’s share price.

Key Highlights from the Report

• Full Waiver Secured from Lenders: AI-REIT has successfully received all necessary waivers from participating lenders following its internalisation process. This move signals a strong vote of confidence from major banking partners in AI-REIT’s strategic direction and financial health.
• Auditor Removes Going Concern Emphasis: Ernst & Young LLP (EY), the external auditor, has confirmed that the “going concern” emphasis of matter note is no longer applicable to AI-REIT’s Q3 2025 financial statements. This implies that concerns over the REIT’s ability to continue as a viable entity have been resolved, a material and price-sensitive development for shareholders.
• Strategic Internalisation Completed: The change of manager and completion of internalisation have been executed smoothly, with lender waivers removing uncertainty around refinancing and review events.
• Refinancing Discussions Underway: AI-REIT is actively engaged in constructive discussions with several financial institutions regarding funding and refinancing options ahead of March 2026. The management underscores a focus on maintaining a prudent capital structure and supporting the REIT’s financial resilience.
• Significant Asset Enhancement Potential: AI-REIT’s portfolio includes significant untapped gross floor area (GFA), offering attractive opportunities for asset enhancement initiatives (AEI) and redevelopment. The management is reviewing options for the planned 200,000 square feet redevelopment of its flagship asset, New Tech Park (151 Lorong Chuan). This project is part of ongoing efforts to optimise property use and uplift the overall quality of the portfolio, potentially unlocking significant value for shareholders.
• Portfolio and Asset Details: As at 30 September 2025, AI-REIT manages a diversified portfolio of 18 properties in Singapore, spanning high-tech industrial, warehouse and logistics, chemical warehouse and logistics, and general industrial sectors. The total GFA stands at approximately 4.2 million square feet, with total group assets exceeding S\$1.0 billion.
• Market Recognition: AI-REIT is a constituent of the MSCI Singapore Micro Cap Index, highlighting its relevance in the Singaporean REIT landscape.

Implications for Shareholders

• The removal of the auditor’s “going concern” note and strong lender support are major positive signals for the REIT’s financial health. These factors may reduce investment risk and strengthen investor confidence, potentially resulting in share price appreciation.
• The upcoming redevelopment of New Tech Park and other AEIs represent future growth catalysts, offering opportunities for both capital gains and higher distributable income.
• Ongoing refinancing talks and prudent capital management suggest continued stability amid market uncertainties, which is crucial for income-seeking investors.
• Shareholders should monitor further announcements regarding redevelopment progress, refinancing outcomes, and portfolio optimisation activities, as these could materially affect AI-REIT’s future financial performance and unit price.

Leadership Commentary

Karen Lee, Chief Executive Officer of Alpha Integrated REIT, stated:
“We thank our lenders for their continued trust and support, which strengthens our strategic momentum. EY’s confirmation further validates our financial resilience and disciplined approach to capital management. These developments mark a pivotal step forward in our journey to create long-term value for our stakeholders.”

Contact and Further Information

Investor Relations Department
Tel: +65 6876 0178
Email: [email protected]
For further details, visit www.ai-reit.com

Disclaimer

This article is for informational purposes only and does not constitute investment advice or an offer to buy or sell any security. Investors should perform their own due diligence and consult their financial advisers before making investment decisions. The information herein is based on publicly available sources and the latest company disclosures as at the time of writing. The author does not hold any position in Alpha Integrated REIT at the time of publication.

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