A property in the initial portfolio of Prime US REIT. (Photo: Prime US REIT)

Prime US REIT has provided an explanation of why it reported lower net property income and distribution for its 1H 2021, despite the strong growth in office jobs across the US.

The REIT reported on 3 August that its gross revenue and net property income (NPI) for 1H 2021 have come in at USD72.1 million and USD46.3 million respectively.

Related: Prime US REIT reports 5.4% decline in DPU for 1H 2021

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.