Parkway Life Reit raises distribution per unit by 4.5% in Q4
Parkway Life Real Estate Investment Trust (PLife Reit) has raised its distribution per unit (DPU) for the fourth quarter by 4.5 per cent from a year ago to 2.82 cents.
This is on the back of a 4.5 per cent rise in distributable income to $17.04 million.
Gross revenue in the three months to Dec 31 was up 3.1 per cent to $24.7 million, as rental income contributed from the properties acquired in July and September was offset by the depreciation of the Japanese yen. Revenue was also boosted by higher rents from Singapore properties.
Net property income for the quarter rose 3.4 per cent to $23.2 million.