Lendlease Global Commercial REIT property, 313@Somerset. (Photo: Lendlease Global Commercial REIT)

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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By Shariffa Al-Habshee

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