Prime US REIT Review @ 16 November 2023

Basic Profile & Key Statistics

Main Sector(s): OfficeCountry(s) with Assets: United StatesNo. of Properties (exclude associate/fund): 14

Key Indicators

Performance Highlight

Gross revenue remains similar but NPI declined due to higher property expenses. Distributable income declined significantly due to higher interest expenses, the absence of lease termination income and the manager has elected to receive 100% of its base fee in cash (vs 20% cash in 3Q2022).

Rental Reversion

Rental reversion for 3Q is at -0.2%.

Related Parties Shareholding

REIT Sponsor's Shareholding: Below median by 20% or moreREIT Manager's Shareholding: ± 10% from medianDirectors of REIT Manager's Shareholding: Above median by 20% or more

Lease Profile

Committed Occupancy: Below median by 10% or moreWALE: ± 10% from medianHighest Lease Expiry within 5 Years: Below median by 10% or more; Falls in 2027Weighted Average Land Lease Expiry: 100% freehold properties

Debt Profile

Gearing Ratio: Above median by 10% or moreCost of Debt: ± 10% from medianFixed Rate Debt %: ±

...

Cancel reply