Paragon REIT reports $73.8m revenue in 1Q24

The REIT also reported stable occupancy rates in the period.

Paragon REIT reported a $73.8m revenue for 1Q24, an increase from the $72.0m in 1Q23.

This growth is mainly attributed to its Paragon asset which accounts for $44.5m of the total revenue.

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Its portfolio maintained a robust occupancy rate of 98.1%, with full occupancy in all of its three Singapore assets and occupancy rates of 97.0% and 97.8% in its two Australian assets.

In the same period, tenant sales from its Singapore assets also rose 1.4% YoY to $236.9m whilst tenant sales from its Australia assets slipped 0.8% YoY to A$238.5m ($213.0m).