Cache's properties are strategically located near major expressways and ports in key logistics centres in Singapore, Australia and China. Cache has a majority share of ramp-up warehouses in Singapore which enjoy modern and attractive technical specifications such as high floor loading, high ceiling heights and wide column spans. Ramp-up warehouse space in Singapore is limited due to high barriers to entry that exist for the development of new efficient ramp-up warehouses as specialised planning and design specifications are required for such properties.
Cache enjoys close to full occupancy. As at 31 December 2016, the Cache portfolio committed occupancy stood at 96.4% and the WALE (by net lettable area) was approximately 3.9 years.
The Manager has a professional team with extensive experience in fund and asset management in Singapore and regional logistics property markets, and brings with them diversity in terms of gender roles, nationalities and academic qualifications.
Strong Commitment from CWT Limited and ARA Group
The Sponsor, CWT Limited, has been undertaking large-scale logistics development projects which will be available to Cache for purchase on a right of first refusal basis. The collaboration with the Sponsor provides Cache with a steady pipeline of properties for acquisition and opportunities for built-to-suit development.
ARA Asset Management Group is one of the largest REIT managers in Asia (ex-Japan) with approximately S$35 billion assets under management and an established track record of managing various REITs across Singapore, Hong Kong, Malaysia and Korea.
Prudent Capital Management
Vital to our strategy and success thus far has been our continued emphasis on prudent capital and risk management. As at 31 December 2016, Cache has a strong interest cover ratio of 4.0 times with no refinancing requirement for its Singapore-dollar borrowings until 2H 2018. Its aggregate leverage is maintained at 43.1%.