Paragon REIT has reported a portfolio gross revenue of $215.6 million in 3QFY2023 ended September, up 1.2% y-o-y.
Gross revenue for its Singapore and Australia assets increased 2.4% y-o-y and 5.4% y-o-y respectively, while tenant sales grew 1% and 9%.
The REIT’s occupancy rate stood at 98.1%, with a portfolio weighted average lease expiry of 5.2 years by net lettable area and 3.1 years by gross rental income.
Gearing was maintained at 30.1%, with fixed debt of 85% and average cost of debt of 4.21%.
The REIT’s debt is well staggered, with a weighted average term to maturity of 2.4 years. There is no further refinancing due for the remainder of FY2023.
Units in Paragon REIT closed at an unchanged 79.5 cents on Oct 31.
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