公募REITs火爆上新 基础资产类型丰富

Core Viewpoint - The public offering of three innovative public REITs products, namely Huaxia Beijing Affordable Housing REIT, CICC Xiamen Housing REIT, and Hongtu Shenzhen Housing REIT, has generated significant interest among investors, indicating a strong demand for public REITs in the market [1][2][3]. Group 1: Public Offering Details - On August 16, the three public REITs products were officially launched for public subscription, with a total estimated subscription scale of nearly 3.8 billion yuan, and an initial fund share quantity of 60 million shares each, totaling 180 million shares [2][4]. - The first day of offering saw enthusiastic participation from investors, with previous public REITs offerings experiencing similar high demand, often leading to oversubscription [2][3]. - The three REITs are backed by rental housing with guaranteed nature, which is considered a scarce asset type in the market [3][4]. Group 2: Underlying Assets - The underlying assets of the newly launched REITs are all affordable rental housing, which diversifies the existing asset types in the public REITs market [4]. - Huaxia Beijing Affordable Housing REIT's underlying assets include two public rental housing projects in Beijing, while CICC Xiamen Housing REIT focuses on two affordable rental housing projects in Xiamen, totaling 4,665 housing units with a construction area of approximately 198,600 square meters [4]. - The rental housing projects maintain high renewal rates, providing stable cash flow for the REITs, with occupancy rates for the underlying assets reaching 99%, 99%, 100%, and 98% respectively [4]. Group 3: Market Trends and New Entrants - Several fund companies that have not yet entered the REITs market are beginning to plan their entry, indicating a growing interest in this investment vehicle [5][6]. - New entrants include two securities asset management companies, Guotai Junan Securities Asset Management and Huatai Securities Asset Management, which are expected to launch their own REITs products [5][6]. - The overall distribution of public REITs management entities remains relatively fragmented, with many fund companies still yet to participate in the market [6].