SINGAPORE (May 2): The manager of Manulife US REIT has announced a distribution per unit (DPU) of 1.65 US cents (2.3 cents) for the first quarter ended March 31, exceeding its projected DPU of 1.52 US cents by 8.6%.

Gross revenue came in at US$19.8 million, 1.3% below the projected US$20 million due to lower recoveries income, which is only recognised when applicable recoverable property operating expenses are incurred.

The REIT registered net property income of US$12.8 million, which was ahead of projections by 2.7% largely due to higher rental and other income as a result of rental escalations and higher car park income respectively.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook