With the latest move to semi-annual reporting, Prime US REIT will not be announced it’s official financial results.
However, as with many REITs, they are providing business development updates.
The results looked good on paper. Distributable income rose 12.9% from IPO projection. Net property income rose by 6.7%. One of the main reasons the results looked better was because it factors in about 40 days contribution from new acquisition at Park Tower.
Management was kind enough to update us in a media brief. Here are some short points that I could gather.
One of the key criteria for Prime US REIT’s acquisitions is to focus on less dense areas, more affordable areas where there can be population growth and employment growth. Park Tower fits the selection.Prime US REIT do not have much debt refinance obligations to do until 2024. I did not ask what about the...
