BHG Retail REIT has reported a weighted average lease expiry (WALE) of 3.5 years by gross rental income (GRI) for the 1QFY2022 ended March.
The REIT’s WALE by committed net lettable area (NLA) stood at 5.9 years as at end-March.
During the quarter, the REIT reported a committed occupancy rate of 97.0%.
As at end-March, the REIT has a total of six properties in its portfolio with a valuation of RMB4.69 billion ($966.7 million).
As at end-March, the REIT’s total borrowings drawn down stood at $301.2 million with a gearing ratio of 35.0%. Its interest coverage ratio stood at 2.6x.
About 84% of its borrowings are denominated in Singapore dollars.
Looking ahead, 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 closed flat at 55 cents on May 11.
