Starhill Global Reit's Q4 distribution per unit rises 8.8% to 1.23 cents

Starhill Global Reit (SGReit) has achieved a 9.5 per cent increase in fourth quarter in income available for distribution to $27.2 million.

Distribution per unit (DPU) for the three months to Dec 31 rose by 8.8 per cent to 1.23 cents.

This was on the back of a 3.6 per cent gain in revenue to $49.1 million.

Net property income climbed by 3.4 per cent to $38.8 million, mainly attributable to the continued strong performance of the Singapore portfolio.

For the full year, DPU amounted to five cents, 13.9 per cent higher than 2012.

On an annualised basis, the latest distribution represents a yield of 6.22 per cent, based on the units' closing price of 78.5 cents as at Dec 31.

Unitholders can expect to receive their payout on Feb 25.

SGReit's investment properties have been assessed at $2.85 billion as at Dec 31.

A net revaluation gain of $137.5 million in investment properties was recorded, largely driven by the Singapore portfolio.