Lendlease Global Commercial REIT announces DPU of 2.1 cents for 1HFY2024

Bryan Wu02-01

Compared to 2.45 cents for 1HFY2023, the lower DPU was a result of higher borrowing costs amidst higher interest rates.Lendlease Global Commercial REIT (LREIT) JYEU has announced a distribution per ...

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As at the period end, the retail portfolio has maintained a healthy tenant retention rate of 80.6% with essential services accounting for the majority of trades at approximately 57% by GRI.\nKelvin Chow, CEO of the manager, says: “We continued to see good operational performance with positive retail rental reversion and higher tenant sales in the firsthalf of FY2024 for our Singapore portfolio. In Milan, the lease restructure with Sky Italia is a pertinent move given the continued work-from-home trend in Europe. This exercise allows us to mitigate the pre-termination risk and enables us to continue maintaining cashflow stability for our unitholders.”\n“Moving forward, we remain focused on active capital management to manage cost and gearing. Concurrently, in this interest rate environment, we will stay flexible and adaptive while monitoring the market for potential additional hedging as appropriate,” he adds.\nUnits in LREIT closed 1 cent lower or 1.59% down at 62 cents on Feb 1.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2408692397"}