Yield is at a modest 6.14% which is hardly exciting but their price-to-book ratio is 0.61 which means we are buying at almost 40% discount to NAV. Do note that they have been trading below NAV since their launch. Gearing is at a healthy 34.3%.
As we move to focus on NAV than yield, this looks very attractive. Moreover, it is in HK dollars which is likely to appreciate against the Singapore dollar (since it is peg to the US dollar). Thus, if you are investing in this, you are also technically investing in US dollars which is also favourable to you. However, I don't expect anyone to launch a takeover bid on this REIT due to its size so their NAV may not be realized. What I can think about is their asset recycling strategy which will help to realize some of their NAV.
I am not vested in this as their yield is way too low.