As at Dec 31, 2022, LREIT’s gross borrowings stood at $1.45 billion with a gearing ratio of 39.2%. Approximately 62% of LREIT’s borrowings are sustainability-linked financing, which are expected to generate net interest savings to its unitholders.
Lendlease Global Commercial REIT (LREIT) has reported a distributable income growth of 95.9% y-o-y to $56 million in its 1HFY2023 ended December, translating to a distribution per unit of 2.45 cents.
Gross revenue for the period more than doubled to $101.7 million, contributed mainly by the acquisition of Jem in Apr 2022 and better operating performance at 313@somerset. This has resulted in higher net property income of $76.4 million for 1HFY2023.
