Tag Archives: Funds

MACARTHURCOOK Industrial Reit (MI-Reit) has announced a distribution per unit (DPU) of 1.51 cents for its first quarter ended June 30, down 36 per cent from a year ago.

Higher borrowing cost was one factor for the fall. Borrowing costs were higher because of the increase in interest margins and facility fees when the repayment date of the Reit’s Singapore term loan facility was extended to Dec 31, 2009 during the quarter.

Net property income for Q1 was $9.3 million, 3.2 per cent higher year-on-year, as the portfolio’s high occupancy was maintained.

The Reit said organic rental growth was supported by built-in rental escalations staggered throughout the leases Continue reading →

It has also secured a $50m Islamic revolving credit financing facility

PRUDENCE is the call at Parkway Life Reit, even as the healthcare trust reported an improved set of second-quarter results yesterday. The trust has secured a $50 million Islamic revolving credit financing facility by The Islamic Bank of Asia, even though it already has ample funding facilities to support potential acquisitions.

‘This $50 million is both a defensive and competitive strategy,’ said Yong Yean Chau, CEO of Parkway Trust Management, which manages the trust. ‘Defensive in a sense that the market has rallied, no doubt, but we’re not very sure whether the Continue reading →