AA REIT posts 1Q DPU of 2.75 cents

SINGAPORE (July 26): The manager of AIMS AMP Capital Industrial REIT (AA REIT) has announced a DPU of 2.75 cents for the 1Q ended June, unchanged from the same period a year ago.

Gross revenue came in at $29.2 million in the first quarter, thanks to a property tax refund of $1.1 million. Net property income improved by 1.0% to $20.4 million compared to a year ago while distribution to unitholders was $17.5 million.

CEO Koh Wee Lih of AIMS AMP Capital Industrial REIT Management Limited, AA REIT’s manager, says: “We increased net property income with proactive asset and lease management focused on managing cost while maintaining prudent gearing of 33.1%, and continued on our strategy to unlock organic growth from our portfolio. Our redevelopments at 30 & 32 Tuas West Road and 8 & 10 Tuas Avenue 20 are tracking on time and budget and will further grow our portfolio value upon completion.”

---

Related Stories

• Optus renews 12-year master lease with AA REIT for Sydney campus
• AIMS APAC REIT falls as much as 8.8% as sponsor sells 70.3 mil units
• AIMS APAC REIT reports flat 1Q DPU of 2.50 cents

---