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LREIT extends property manager's contract in Milan

The lease restructuring is not expected to materially impact LREIT’s distribution and NAV for the FY2024.

The contract will last for three years from Feb 22.

Tenant sales and footfall at 313@Somerset have recovered to approximately 75% and 60% of pre-Covid levels

The manager of LREIT intends to distribute 100% of its adjusted cash netflow from operations for the period ending June 30, 2021.

Despite retail coming under increasing pressure, DBS reckons that Lendlease is poised for resilience.

Year-to-date ended March 31, LREIT reported a DPU of 2.57 cents, 1.9% higher than its forecast, and a distributable income of $30.0 million, 1.3% higher than expected.

SINGAPORE (Oct 15): Daiwa Capital Markets is initiating coverage on Lendlease Global Commercial REIT with an “outperform” rating and a target price of $1.01.

SINGAPORE (Sept 16): Australia-listed international property and infrastructure group Lendlease Global has lodged a prospectus to list Lendlease Global Commercial REIT on the Mainboard of the Singapore Exchange.