Parkway Life Reit posts 1.9% rise in Q1 NPI to S$28.6m

HEALTHCARE real estate investment trust (Reit) Parkway Life Reit reported a 1.9 per cent increase in net property income (NPI) to S$28.6 million in its first quarter ended Mar 31, 2022, up from S$28.0 million a year ago.

Gross revenue for the quarter rose 2.3 per cent to S$30.7 million, from S$30.0 million the year before.

As part of its Q1 business update released on Friday (Apr 22), the Reit's manager noted that its balance sheet and capital structure remained strong, with no long-term debt refinancing needs until June 2023. As at Mar 31, 2022, all-in debt cost of the Reit stood at 0.56 per cent, while its gearing stood at 34.5 per cent.