AIMS APAC REIT has reported a distribution per unit (DPU) of 2.75 cents for its 4Q 2019, 4.6% higher year-on-year.

This brings the REIT’s total DPU for FY 2019 to 10.25 cents, with total distributable income amounting to SGD70.5 million, up 4.6% compared to FY 2018.

The REIT’s gross revenue achieved for the year was SGD118.1 million, up 1.0% or SGD1.2 million compared to the prior year.

Net property income was SGD78.5 million for the full year, 2.7% or SGD2.1 million higher compared to FY 2018.

AIMS APAC REIT has attributed the increase mainly to maiden rental contribution from 51 Marsiling Road beginning from 27 April 2018, and higher rental contribution and occupancy rates at 8 Tuas Avenue 20.

Its portfolio occupancy remained was at 94.0%, compared to 93.9% in the preceding quarter.

For the full year, AIMS APAC REIT successfully executed a total of 60 new, and renewal leases, representing 119,381 square feet, or 18.8% of total net lettable area.

The REIT’s aggregate leverage is at 33.7%.

AIMS APAC REIT finished the trading day 1.4% up from its previous close on the Singapore Exchange to end at SGD1.42.