Lendlease Global Reit's Q3 DPU 0.7% higher than forecast

Singapore

LENDLEASE Global Commercial Reit has posted a distribution per unit (DPU) of 1.28 Singapore cents for the third quarter ended March 31, 0.7 per cent higher than the manager's initial public offering (IPO) forecast of 1.27 cents.

Gross revenue stood at S$21.7 million for the quarter, up 2.2 per cent from the IPO forecast of S$21.2 million. This was mainly driven by rental income from 313@somerset and higher contributions from Sky Complex in Milan due to the pick-up in the euro against the Singapore dollar, the manager said in a statement on Tuesday.