The REIT explains that gross revenue and NPI for 1HFY2024 includes the upfront recognition of the supplementary rent received from the lease restructuring of Sky Complex in December 2023. On a proforma basis after adjusting for the supplementary rent, 1HFY2025 gross revenue was 0.4% higher while NPI was 2.2% lower y-o-y.
Lendlease Global Commercial REIT (LREIT) announced that its distribution per unit (DPU) for 1HFY2025 ended December 2024 has come in at 1.8 cents, 14.3% lower than 2.1 cents in the previous year. The lower DPU was primarily driven by higher finance costs, lower NPI as well as an enlarged unit base.
This comes on the back of a 13.6% y-o-y decline in gross revenue to $103.6 million from $119.9 million a year ago. This brough net property income (NPI) to $74.9 million, 19.8% lower than $93.4 million in the same period last year.
