Lendlease REIT poised for stormy conditions given tenant retention rates, says DBS


Grounded by triple net leases, Lendlease Global Commercial REIT is poised to weather the storms ahead given its triple net leases, and high-tenant retention rates, says DBS.

On 5 May, Lendlease REIT reported that revenue and net property income (NPI) for its 3Q 2020 were SGD21.6 million and SGD16.6 million respectively.

These exceed forecasts made during its by 2.2% and 4.0% respectively.

Accordingly, Lendlease REIT’s distribution per unit (DPU) for the period was 1.28 cents, 0.7% higher than IPO estimates.

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