Parkway Life Real Estate Investment Trust reported yesterday a third-quarter distributable income of s$14.5 million, up 6.8 per cent from a year earlier, on yield-accretive acquisitions, higher rent from existing properties and savings from lower financing costs.
Distribution per unit (DPU) for the July-September quarter rose 6.8 per cent to 2.40 Singapore cents. Net property income increased 3.6 per cent to s$20.14 million.
Gross revenue rose by 4.1 per cent to s$22 million due to contribution from Japan nursing home properties acquired. Revenue was also driven by higher rent from its properties here.
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