CapitaCommercial Trust sees Q1 DPU up 3.9% at 2.12 cents

SINGAPORE - Mainboard-listed CapitaCommercial Trust said on Wednesday that its distribution per unit (DPU) of 2.12 cents for its first quarter ended March 31, 2015, up 3.9 per cent from 2.04 cents a year ago.

The office real estate investment trust (Reit) said revenue was up 6.5 per cent to S$68.2 million, while net property income was up 6.4 per cent to $54 million.

Based on its last traded share price of $1.725 on Tuesday, distribution yield was an annualised 5 per cent.

Net asset value per unit at end-March was $1.73, dipping from from $1.75 at end-2014.

Lynette Leong, CEO of the Reit manager, said that the Reit's new office building CapitaGreen has, as of Tuesday, secured leases for 536,500 square feet or 76.4 per cent of its net lettable area.

"We target to achieve full occupancy at CapitaGreen by the end of 2015. A few tenants have commenced operations in the building, while the majority is expected to move in progressively over the second half of 2015," she said.