The REIT continues to hold active leasing discussions, and notes that progress is expected in the coming months at Park Tower and Village Center Station I.
The REIT completed an equity fund raise of US$25 million via private placement with new units issued on Oct 6, 2025. The proceeds will be primarily allocated to fund capital expenditures mainly comprising tenant incentives.
The manager of the REIT expects to increase Prime’s distributable income payout ratio to at least 50% for 2HFY2025 onwards.
The manager says that it believes that increasing the distributable income payout ratio from 10% to 50%, while retaining 50% of the current distributable income can continue to ensure coverage for ongoing capital and operational needs, while the cash flows from new leases ramp up.
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As the rent payment of a majority of the newly signed leases commences throughout 2026, the manager expects further growth in PRIME’s property cash income.
Units in Prime US REIT closed flat at 20 US cents on Nov 11.
