Net property income correspondingly declined by 2.5% y-o-y to $68.4 million. The properties with step-up lease arrangements contributed to higher distributable income in 1HFY2024.
The manager of Parkway Life REIT has announced a DPU of 7.54 cents for 1HFY2024 ended June, a 3.5% y-o-y increase compared to the 7.29 cents recorded in 1HFY2023.
Gross revenue decreased by 2.7% y-o-y to $72.4 million due mainly to the depreciation of Japanese yen, partially offset by the contribution from two nursing homes acquired in October 2023.
