New acquisitions, better rentals boost A-Reit Q1 results
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ASCENDAS Reit (A-Reit) yesterday posted a 2.5 per cent increase in distribution per unit (DPU) to 3.64 Singapore cents for its first quarter ended June 30.
The industrial Reit makes distributions semi-annually, so it will pay out its half-year distribution after its second quarter ends on Sept 30.
New acquisitions made since July last year, positive rental reversion and rental income from Nexus @one-north and A-Reit City @Jinqiao, a business park in a tech development zone in Shanghai, helped to boost its gross revenue by 8.1 per cent to S$163.2 million.
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