First REIT has recorded a 2.5 per cent on-year jump in distributable income to S$5.2 million for the first quarter of 2009. The healthcare real estate investment trust attributed the increase to its resilient trust structure. It added that the distribution per unit (DPU) also rose 1.6 per cent to 1.88 Singapore cents for the three months ended March 31. First REIT said it achieved a distribution yield of...
First Reit
First Real Estate Investment Trust, or First REIT, has secured a three-year loan facility from OCBC Bank worth S$70 million. OCBC will also provide a notional amount of S$50 million as part of an Interest Rate Derivative Facility for interest hedging on this loan. This will then limit First REIT's exposure to possible upward fluctuations in interest rates. The trust said some of the money will be used...
First Real Estate Investment Trust said it will distribute 1.91 cents per unit for its fiscal second quarter, up about 16 per cent from the same period a year ago. All in, First REIT will distribute S$5.2 million to unitholders. The trust said its net property income grew about 15 per cent in the second quarter to about S$7.5 million. Gross revenue also rose 15 per cent to S$7.5 million. The trust said...