ESR-Reit still looking to divest assets as it posts 2.3% drop in Q3 DPU

Singapore

INDUSTRIAL landlord ESR-Reit is still focused on divesting non-core assets and managing lease expiries proactively for its properties amid further pressure on industrial rents as new supply in the market come onstream over the next six months.

But macroeconomic indicators are looking up and the Reit's portfolio is more balanced with a move from single-tenanted to multi-tenanted properties over the last few years, the Reit manager ESR Funds Management (S) Ltd said as it announced a 2.3 per cent drop in distribution per unit (DPU) to 0.964 cents for the three months ended Sept 30.