Prime US Reit

Distributable income down 18.8% at US$12.1 million due largely to lower property operating income as a result of lease expiries

A distribution of only 10% of the distributable income has been declared for the last two one-year periods since Jul 1, 2023, the manager notes

The worst could be over, with interest rates now edging downwards, and leasing demand and occupancy metrics improving across major office markets

Investor sentiment towards the sector appears to be stabilising, but recovery among players remains uneven

Reit records 11.6% year-on-year decrease in net property income to US$35.8 million for period

This new anchor lease will bring the building to above 85% occupancy

Its manager says the Reit has to retain a ‘substantial’ portion of distributable income to reinvest capital into its asset portfolio

The Reit’s manager is cautiously optimistic about return-to-office mandates “gaining momentum”

The trio of US office Reits has recorded strong weekly gains of more than 10%, respectively