- Lendlease Global Commercial REIT (SGX:JYEU) reported that its full year gross revenue and NPI increased by 7.8% and 7.4% y-o-y to S$220.9mil and S$165.3mil respectively, on strong reversionary rents for SG retail assets and supplementary rent recognised in conjunction to lease termination at Sky Complex Building 3.
- - Read this at SGinvestors.io -
- Property expenses increased by S$4.7mil, approximating a 9.2% y-o-y increase on higher property tax and utilities costs.
- Distributable income retreated 15.6% y-o-y to S$91.4mil on a steeper-than-expected increase in finance cost at 33% y-o-y, resulting in a 17.7% y-o-y decline in Lendlease REIT's DPU to 3.87 cents, behind our estimates.
MAS’ new proposal leaves more room to breathe.
- - Read this at SGinvestors.io -
- Management of Lendlease Global Commercial REIT has guided that full year debt pressure will be kept within an additional 20-30 bps increase in borrowing cost for FY25 to reflect expiry of Euro-hedges on a full year basis.
Reversionary guidance continues to be robust.
- Read more at SGinvestors.io.
