Before the consolidation, the REIT manager had previously engaged seven property management firms to serve its 14-property portfolio.
According to the manager, the consolidation of the management services is a “key step” in the REIT’s evolution as it continues to grow its asset base and intensify its focus on ESG and technology solutions across its portfolio.
The final property management transfer decision for the last of Prime US REIT’s 14 properties will be decided based on the achievement of key property milestones, says the REIT manager.
As at 9.09am, units in Prime US REIT are trading 0.5 US cent higher or 0.7% up at 72 US cents.
