Crombie REIT's development project, Le Duke. (Photo: Crombie REIT)

Crombie REIT has reported a property net operating income (NOI) of CAD75 million (USD57 million) for the three months ended 2018, a fall of of 0.8% year-on-year.

This after the REIT’s property revenue slipped by 1.3% to CAD104 million, while property income rose by 2.5% CAD30.8 million.

Basic Adjusted funds from operations (AFFO) per unit for the quarter rose marginally by 0.1% to CAD0.26.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.