As of September 30, Prime US REIT has reported an occupancy rate of 80.7% and a weighted average lease expiry (WALE) of 4.9 years, according to its third-quarter fiscal year 2025 business update.
During the quarter, the REIT secured approximately 92,000 square feet in new leases, bringing the total to 492,000 square feet for the nine months of fiscal year 2025. The REIT also achieved an average rental reversion of 6.4%.
Active leasing discussions are ongoing, with expectations for progress at Park Tower and Village Center Station I in the upcoming months.
The REIT successfully raised US$25 million through a private placement, with new units issued on October 6, 2025. The funds will mainly be used for capital expenditures, particularly tenant incentives.
The REIT's manager plans to increase Prime's distributable income payout ratio to at least 50% starting from the second half of fiscal year 2025.
The manager believes that increasing the payout ratio from 10% to 50%, while retaining 50% of the current distributable income, will adequately cover ongoing capital and operational needs as new lease-generated cash flows develop.
With the majority of new lease payments commencing in 2026, the manager anticipates further growth in Prime's property cash income.
On November 11, units in Prime US REIT closed steady at 20 US cents.
