New acquisitions boost A-Reit's Q1 distribution

Occupancy at its Singapore portfolio rises, but falls in Australia due to the expiry of a single tenant lease in Sydney

Published Thu, Jul 21, 2016 · 09:50 PM

Singapore

ASCENDAS Reit on Thursday posted a distribution per unit (DPU) of 3.996 Singapore cents for its first quarter ended June 30, 2016.

This was 4 per cent higher than the 3.841 cents it paid out in the corresponding quarter a year ago.

Distribution was boosted mainly by the Australia portfolio and One@Changi City, which the Reit acquired in the second half of the previous fiscal year. Lower utilities expenses for the quarter also helped.

The acquired Australia portfolio consists of 26 logistics properties bought for A$1.01 billion (S$1.01 billion) from the real estate arm of GIC and Frasers Property Australia Pty, a…

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