Capital RaisingThe private placement is viewed positively as it will fund organic growth, increase portfolio occupancy, and strengthen the balance sheet.
Leasing ActivityStrong leasing momentum with large leases signed, lifting occupancy to 85.7%.
Market RecoveryMaintain BUY with a higher DDM-derived target price, with cost of equity lowered amid signs of recovery in the US office market and cash flow visibility from new leases.