Singapore-listed industrial REIT Mapletree Logistics Trust (MLT) (SGX:M44U) has announced a distribution per unit (DPU) of 1.9 Singapore cents for its 1Q FY14/15 and the acquisition of logistics park in China from its sponsor on 21 July.

The DPU figure represents an increase of 6% over the 1.8 Singapore cents reported from the corresponding period in the last financial year and came on the back of a 7.4% increase in gross revenue for the period.

Revenue for the quarter was reported at SGD80.9 million.

Managers for the REIT has attributed the increase in revenue to positive rental reversions in Hong Kong and Singapore, higher revenue from its four Japan properties and new contributions from Benoi Logistics Hub and a recently acquired South Korean property.

However MLT's portfolio, consisting of 112 properties, recorded a slight dip in occupancy rate at 97.8% compared to 98.3% in the previous corresponding period. This is due to lower occupancies at its Singapore and South Korean properties.

The REIT expects results for the quarters ahead to be bolstered by its recent acquisition of a property in Iskandar Malaysia and the recently bought Daehwa Logistics Centre.

Managers for the REIT also announced on the same day that it will be acquiring the Mapletree Zhengzhou Logistics Park in China from its sponsor for RMB205.6 million (SGD41.1 million).

The grade-A logistics facility is said to have a strong tenant base and is well connected as a major transportation hub in central China.

MLT expects the facility to generate a net property income yield of 8% upon acquisition. The REIT has indicated that it will make a separate announcement upon the signing of the sale and purchase agreement.

Units of MLT are currently trading at SGD1.16 on the Singapore Exchange.