Data from Lendlease Global Commercial REIT’s latest disclosure has been updated into the Singapore REITs table.
Lendlease Global Commercial REIT (LREIT) reported on 5 May that it has maintained a portfolio occupancy of 99.9% as at end-March 2022.
Additionally, the REIT’s portfolio weighted average lease expiry (WALE) for the period was 8.2 years by net lettable area (NLA) and 4.3 years by gross rental income (GRI).
The manager had substantially de-risked leases expiring for the year to 1% and 3% by NLA and GRI respectively, the REIT added.
In April 2022, the REIT completed the acquisition of a 100% direct interest in Jem.
"The enlarged portfolio with high-quality tenants such as the Ministry of National Development (MND), IKEA and NTUC Fairprice Xtra provides strong and stable cash flow for unitholders", said LREIT further.
In addition to an increase in total deposited property to approximately SGD3.6 billion, LREIT’s portfolio WALE will also increase to 8.7 years and its exposure to the resilient suburban retail sector will expand significantly to approximately 47%, the REIT added.
LREIT was last done on the Singapore Exchange at SGD0.81, which presently implies a distribution yield of 5.93% according to data on the Singapore REITs table.