Net Property Income (NPI) decreased 9.2% to $19.2 million due mainly to loss of revenue and resultant property operating expenses during the conversion of properties from single-tenanted to multi-tenanted, higher maintenance costs and property divestments in FY16.
SINGAPORE (July 13): The manager of ESR-REIT, the former Cambridge Industrial Trust, has declared a DPU of 0.956 cents for the 2Q17 ended June, down 11.3% from 1.078 cents a year ago.
ESR Funds Management says 2Q17 gross revenue ended at $27.7 million, a decrease of 2.2% from a year ago.
