Published:
Sabana REIT’s net property income dipped 9.2% in FY14
Its DPU slipped by 21.9%.
Sabana REIT reported that its full-year net property income slipped 9.2% to $72.9m in 2014, while its distribution per unit fell 21.9% to 7.33 cents.
The decrease mainly due to the increase in vacancies and property expenses in relation to the conversion of master‐tenanted properties into multi‐tenanted properties.
Sabana REIT’s DPU continued to be affected by the conversion of 5 master tenanted properties into multi‐tenanted properties, which resulted in a lower DPU in 4Q 2014 compared to the same period last year.
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