According to Paragon REIT, which was formerly known as SPH REIT, interest cost for the period was up by $14.7 million to $25.5 million.
Hit by a surge in interest costs, Paragon REIT's distribution per unit for 1HFY2023 ended June was down 15.7% y-o-y to 2.42 cents.
Gross revenue, in the same period, held steady at $143.1 million, up 0.6% y-o-y, while net property income was $106.1 million, up 0.1%.
