The distribution per unit amount was 2.05 cents.
AIMS APAC REIT (AA REIT) distributed a total of $14.5m to unitholders for Q3 FY 2021, according to an announcement made by its manager AIMS APAC REIT Management.
The distribution per unit (DPU) amount was 2.05 cents, 2.5% QoQ higher than the previous DPU of 2 cents in Q2 FY 2021, caused primarily by the net contributions from 7 Bulim Street.
The maiden rental contribution from 7 Bulim Street as well as high rentals and recoveries by properties at Tuas Avenue 2 and 20 Gul Way contributed to a growth in gross revenue, which was at $31.1m (9.1% higher YoY). Concurrently, AA REIT recorded a net property income of $23.6m (2% higher YoY).
However, the gross revenue growth was partially offset by low contributions from the property at 1A International Business Park, the expiry of the master lease at 541 Yishun Industrial Park A, as well as lower rental and recoveries from 103 Defu Lane 10.
“With a gradual global economic recovery from the COVID-19 pandemic expected in 2021, backed by concerted vaccination campaigns and government support worldwide, we remain steadfast in our focus on proactive lease management, tenant retention, maintaining a healthy balance sheet and prudent financial discipline,” the REIT manager’s CEO, Koh Wee Lih, said. “We are pleased to note that the REIT’s focus on proactive leasing efforts has translated into the completion of 21 leasing deals during the quarter, with above industry portfolio occupancy rate at 95.7%.”
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