Healthcare-based First Reit posts 27% rise in Q2 distributable income to $12.7 million
FIRST Reit, Singapore's first healthcare real estate investment trust with properties in Indonesia, Singapore and South Korea, today posted a 41.7 per cent increase in net property income to $19.7 million for the second quarter.
Distributable income for the three months to June 30 jumped by 26.6 per cent to $12.7 million.
Distribution per unit (DPU) increased by 16.4 per cent to 1.85 cents despite an expanded unit base.
Gross revenue for the quarter rose 43.4per cent to $20.1 million, largely due to the contributions from the four most-recently acquired properties.