Ascott Residence Trust reports flat Q2 DPU of 1.84 S cents

Singapore

ACQUISITIONS of two German and one Singapore property in 2017 helped drive up Ascott Residence Trust's numbers for its second fiscal quarter, while distribution per unit (DPU) remained at 1.84 Singapore cents, the same as that for the corresponding year-ago period.

The real estate investment trust (Reit) highlighted that the acquisition of Ascott Orchard Singapore, as well as Germany's Citadines City Centre Frankfurt and Citadines Michel Hamburg - all with master leases - helped provide income stability and contribute to its bottom line.