Rent increases and new properties lift income at Cache Logistics Trust
Distributable income at Cache Logistics Trust rose 9.6 per cent in the fourth quarter due to rent increases and investment properties bought in 2012 and 2013.
Distributable income was $16.6 million for the three months to Dec 31, from $15.2 million a year ago. Gross revenue rose 8.2 per cent to $20.7 million.
But distribution per unit fell 0.8 per cent to 2.137 cents as a dilutive placement in March last year raised the number of issued units.
The quarter's distributions will be paid on Feb 25.