Apex Court, a potential acquisition of Elite Commercial REIT. (Google Maps)

Elite Commercial REIT is being bogged down by higher cost of debt and a decline in the valuation of its portfolio, but more headwinds are on the horizon.

The REIT, which is presently the only UK-focused REIT listed in the Asia-Pacific region, reported its financial results for FY2022 on 14 February.

For the financial year, the REIT generated revenue growth of 6.7% to GBP37.1 million compared to FY2021.

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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.