BHG Retail REIT has reported a weighted average lease expiry (WALE) of 3.1 years by gross rental income (GRI) for the 3QFY2024 ended Sept 30.
The REIT’s WALE by committed net lettable area (NLA) stood at 5.2 years as at end-September.
During the quarter, the REIT reported a committed occupancy rate of 96.6%.
As at Sept 30, the REIT has a total of six properties in its portfolio with a valuation of RMB4.72billion ($874.2 million).
For the same period, the REIT’s total borrowings drawn down stood at $299.3 million with a gearing ratio of 407%. Its interest coverage ratio stood at
About 84% of its borrowings are denominated in Singapore dollars.
See also: Kimly reports higher FY2024 revenue but earnings down on higher depreciation and other costs
Moving forward, the REIT manager says it remains “focused and committed to proactively manage the existing portfolio, as well as to pursue growth”.
Units in BHG Retail REIT BMGU closed 3 cents lower, or down 6.12%, at 46 cents on Nov 12.
