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Ascendas REIT’s 3Q DPU rises 9.9% to 3.946 cents
By Amy Tan / theedgemarkets.com | January 22, 2016 : 6:36 PM MYT
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SINGAPORE (Jan 22): The manager of Ascendas REIT (A-REIT) says 3QFY15/16 distribution per unit (DPU) increased 9.9% to 3.946 cents from a year ago.
For the three months to December, the total amount available for distribution grew 11.7% to $96.6 million.
During the quarter, the trust announced acquisitions worth approximately $1.5 billion comprising 27 freehold logistics facilities in Australia and a business park property in Singapore.
Occupancy rates for the overall portfolio improved to 89.2% mainly attributable to the occupancy of 94.4% achieved by the recently acquired Australian logistics property portfolio.
In Singapore, portfolio occupancy declined to 88.9% mainly due to the recently completed new block at 40 Penjuru Lane which has yet to be occupied.
The manager is in negotiation with potential tenants for about half of the space in the new block.
Positive rental reversion was achieved across all segments of the Singapore portfolio. A weighted average rental reversion of 7.3% was achieved for leases renewed in the quarter.
Units in A-REIT ended 1.88% higher at $2.17 on Friday.