AIMS APAC REIT property at 20 Gul Way. (Photo: AIMS APAC REIT)AIMS APAC REIT property at 20 Gul Way. (Photo: AIMS APAC REIT)

AIMS APAC REIT has announced a distribution per unit (DPU) of 2.50 cents for its 1Q FY 2020, unchanged compared to the same period in the preceding year.

The REIT’s gross revenue increased by 5.8% on-year to SGD30.6 million, while net property income rose by 18.1% over the same period to SGD 22.9 million.

During the quarter, AIMS APAC REIT executed 16 new and renewal leases representing 13,630 square metres, or 2.2% of total net lettable area.

As a result, the REIT’s portfolio occupancy increased slightly to 94.4%, as compared to 94.0% in the preceding quarter.

AIMS APAC REIT’s aggregate leverage as at 30 June 2019 is at 33.8%, with funding cost of 3.6%.

AIMS APAC REIT was last done on the Singapore Exchange at SGD1.47.

Details from the financial results above have been updated into the Singapore REITs fundamentals table.

By Shariffa Al-Habshee

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