First Reit posts 1.9% rise in Q2 DPU

SINGAPORE - Contributions from recent acquisitions helped health-care real estate investment trust First Reit boost second-quarter results.

The Reit, which owns properties in Indonesia, Singapore and South Korea, posted on Thursday (July 14) a distribution per unit (DPU) of 2.11 cents for the three months to June 30.

This was 1.9 per cent higher than a year ago, said its manager Bowsprit Capital Corporation.

First Reit's properties in Singapore include the Pacific Healthcare Nursing Home @ Bukit Merah and nursing home The Lentor Residence.

Distributable income expanded 5.5 per cent to S$16.2 million for the quarter.

Gross revenue rose 6.5 per cent to S$26.6 million for the quarter, while net property income rose 6.9 per cent to S$26.3 million from the previous year.