That said, the drop in revenue will be compensated by the foreign exchange gains from the settlement for the forward contracts, says the REIT manager. The REIT reported 2.8% higher distributable income of $538,000 during the quarter from Singapore hospitals and some Japanese nursing homes with step-up lease arrangements.
Parkway Life REIT has reported gross revenue of $108.5 million for 3QFY2024 ended Sept 30, 2.2% lower y-o-y. This was mainly due to depreciation of Japanese yen, says the REIT manager on Oct 16, partly offset by contribution from the properties acquired in 2023 and 2024.
Net property income for the quarter was 2.1% lower y-o-y, at $102.4 million.
