The REIT’s net property income (NPI) for the quarter came in at $37.4 million, 0.4% higher y-o-y, due to higher contributions from Singapore Properties and Myer Centre Adelaide Retail.
As at Sept 30, the REIT’s committed portfolio occupancy stood at 98.4%. Its weighted average lease expiry (WALE) stood at 6.3 years by net lettable area (NLA).
As at the same period, the REIT had 10.8% in expiring leases by gross rent in the FY2023/2024.
Gearing stood at 37.4% as at Sept 30. The REIT had 77% of fixed/hedged borrowings as at Sept 30 as well.
See also: Keppel Pacific Oak US REIT’s 1QFY2025 distributable income falls by 19.3% y-o-y to US$9.6 mil
In September 2023, the REIT extended its existing unsecured JPY2 billion ($18.3 million) term loan for another three years from September 2024.
The REIT has no term debt refinancing requirements until September 2024.
Units in Starhill Global REIT closed flat at 45 cents on Oct 27.
