The higher figures were driven by higher occupancy and rental rates as well as a stronger British pound (GBP) and Australian dollar (AUD) against the Singapore dollar (SGD) and partly offset by higher property operating expenses, says the REIT manager.
Centurion Accommodation REIT (CAREIT) has reported gross revenue of $52.5 million for the 1QFY2026 ended March 31, 2.7% higher than forecasted in its initial public offering (IPO) prospectus.
The REIT’s net property income (NPI) outperformed its prospectus forecast by 2.4% at $37.5 million.
