Lendlease Global Commercial REIT (LREIT) is a relatively new REIT that listed on the SGX in October 2019. At the moment, the REIT owns just two properties in its portfolio – 313@somerset, a prime mall in Singapore; and Sky Complex, a property comprising three grade-A office buildings in Milan, Italy. As of 30 June 2020, the properties have a combined value of S$1.4 billion. LREIT debuted to much fanfare back in October when its share price jumped as high as 6.8% from its IPO price of 88 cents on opening day. LREIT also projected a distribution per unit (DPU) of 5.29 cents for FY2021, which works out to a distribution yield of 6.0% based on its IPO price. However, COVID-19 has thrown a spanner in the works when the pandemic hit a few months after LREIT’s IPO. How will LREIT respond to the challenges? I attended its recent annual meeting

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