Lendlease Global Reit’s committed portfolio occupancy rises to 88.8% in 3rd quarter

The Straits Times05-06

SINGAPORE - Lendlease Global Commercial Reit (LReit) on May 6 reported a committed portfolio occupancy of 88.8 per cent for the third quarter ended March 31, 2024, up from 87.9 per cent from the ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2433478461?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-06 20:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2433478461","market":"sg","top_or_hot":-1,"title":"Lendlease Global Reit’s committed portfolio occupancy rises to 88.8% in 3rd quarter","media":"The Straits Times","content":"<div>\n<p>SINGAPORE - Lendlease Global Commercial Reit (LReit) on May 6 reported a committed portfolio occupancy of 88.8 per cent for the third quarter ended March 31, 2024, up from 87.9 per cent from the ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/lendlease-global-reit-s-committed-portfolio-occupancy-rises-to-888-in-3rd-quarter\">Source Link</a>\n\n</div>\n","source":"straits_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lendlease Global Reit’s committed portfolio occupancy rises to 88.8% in 3rd quarter</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLendlease Global Reit’s committed portfolio occupancy rises to 88.8% in 3rd quarter\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-06 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/companies-markets/lendlease-global-reit-s-committed-portfolio-occupancy-rises-to-888-in-3rd-quarter><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Lendlease Global Commercial Reit (LReit) on May 6 reported a committed portfolio occupancy of 88.8 per cent for the third quarter ended March 31, 2024, up from 87.9 per cent from the ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/lendlease-global-reit-s-committed-portfolio-occupancy-rises-to-888-in-3rd-quarter\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6512","symbol_name":"房地产股","start_time":0,"source_url":"https://www.straitstimes.com/business/companies-markets/lendlease-global-reit-s-committed-portfolio-occupancy-rises-to-888-in-3rd-quarter","article_id":"2433478461","we_media_id":null,"thumbnails":[],"rights":{"source":"straits_highlight","url":"https://www.straitstimes.com/business/companies-markets/lendlease-global-reit-s-committed-portfolio-occupancy-rises-to-888-in-3rd-quarter","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2433478461","pubTimestamp":1714998600,"sourceInfo":{"source_id":"straits_highlight","name":"Straits Times"},"weMediaInfo":null,"summary":"SINGAPORE - Lendlease Global Commercial Reit on May 6 reported a committed portfolio occupancy of 88.8 per cent for the third quarter ended March 31, 2024, up from 87.9 per cent from the previous quarter.The Reit continues to maintain a long portfolio weighted average lease expiry of 7.8 years by net lettable area  and 4.8 years by gross rental income , respectively, for the third quarter.In a third-quarter business update to the Singapore Exchange, the real estate investment trust’s  manager said this is mainly attributed to the positive leasing momentum for Sky Complex , where approximately 8.1 per cent of the NLA was committed at market rents within three months post lease restructuring of the complex.“With a long office weighted average lease expiry of 12.6 years by NLA and 15.1 years by GRI, it will provide stable revenue for LReit’s unitholders,” said the manager.Interest coverage ratio of LReit was 3.4 times, which provides ample buffer from its debt covenants of two times, said","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6512":"房地产股","BK6011":"零售业房地产投资信托","BK6137":"零售房地产信托","CFA.SI":"NikkoAM-STC Asia REIT","JYEU.SI":"Lendlease Reit"},"translate_title":"Lendlease Global Reit第三季度承诺投资组合占用率升至88.8%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":1,"JYEU.SI":1},"content_text":"SINGAPORE - Lendlease Global Commercial Reit (LReit) on May 6 reported a committed portfolio occupancy of 88.8 per cent for the third quarter ended March 31, 2024, up from 87.9 per cent from the previous quarter.\nThe Reit continues to maintain a long portfolio weighted average lease expiry of 7.8 years by net lettable area (NLA) and 4.8 years by gross rental income (GRI), respectively, for the third quarter.  \nIn a third-quarter business update to the Singapore Exchange, the real estate investment trust’s (Reit) manager said this is mainly attributed to the positive leasing momentum for Sky Complex (Building 3), where approximately 8.1 per cent of the NLA was committed at market rents within three months post lease restructuring of the complex.\n\n\n\nSky Complex is a group of three Grade A office buildings located at Santa Giulia Business District in Milan. \nThe manager added that office tenants account for approximately 22 per cent of the portfolio GRI.\n“With a long office weighted average lease expiry of 12.6 years by NLA and 15.1 years by GRI, it will provide stable revenue for LReit’s unitholders,” said the manager. \n\n\n\n\nAs at March 31, 2024, the Reit’s retail portfolio occupancy was 99.4 per cent, with positive rental reversion of 15.3 per cent. It has also maintained a healthy retail tenant retention rate of 86.2 per cent.\n\nIt further noted that tenant sales were up 2.6 per cent year on year to $207.9 million in the third quarter of financial year 2024, while visitation increased 6.1 per cent from 15.4 million in the year-ago period to 16.4 million this quarter.\nIn the third quarter, gross borrowings were $1.57 billion with a gearing ratio of 41 per cent. The weighted average debt maturity was 2.8 years with a weighted average cost of debt of 3.5 per cent per annum. \nInterest coverage ratio of LReit was 3.4 times, which provides ample buffer from its debt covenants of two times, said the manager.  \nMr Kelvin Chow, chief executive of the manager, said: “The leasing progress at Building 3 of Sky Complex is an encouraging step towards our strategic repositioning to secure multi-tenancy at market rents.\n“Moving forward, we will continue to remain focused on prudent capital management to manage cost and gearing.”\nUnits of Lendlease Global Commercial Reit rose $0.015 or 2.8 per cent to $0.55 on May 6. THE BUSINESS TIMES\n\n\n\n\n\nMore On This Topic\n\n \n\nSingapore shares close higher, with Reits leading gainers\n\n\n\n \n\nLendlease Global Commercial Reit H1 DPU down 14.5% to 2.1 cents","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":0,"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/2433478461"}