Starhill Global Reit posts 0.9% rise in Q3 DPU.
STARHILL Global Reit on Thursday posted a 0.9 per cent rise in distribution per unit to 1.1 Singapore cents for the third quarter ended March 31.
Gross revenue declined 0.9 per cent year-on-year to S$51.3 million, and NPI shrank by 1.8 per cent to S$39.6 million.Market voices on: Its Australia portfolio, comprising Myer Centre Adelaide in Adelaide, South Australia, the David Jones Building and adjoining Plaza Arcade in Perth, Western Australia, contributed 22.2 per cent of total revenue or S$11.4 million. Actual occupancy of the Australia office portfolio more than doubled to 74.9 per cent as at March 31, with a digital media solutions provider commencing its lease as the office anchor tenant at Myer Centre Adelaide in Q3.
In March 2019, Starhill entered into new conditional master tenancy agreements for its Malaysia properties with the current master tenant. The agreements include asset enhancement works for Starhill Gallery, which the Reit manager intends to finance with a combination of external borrowings and/or internal working capital.
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