Published:
Sabana REIT's net property income up 0.5% to $18.4m in Q2
Thanks to new acquisitions, higher occupancy.
Sabana REIT reported that its net property income grew 0.5% to $18.4m in the second quarter, driven by income contributions from newly-acquired 10 Changi South Street 2 as well as improvement in portfolio occupancy level.
The REIT manager successfully secured 8 multi‐tenant leases in the quarter. As a result, multi‐tenanted occupancy level in 2Q 2015 to increase to 78.3% in Q2, while overall portfolio occupancy level grew to 90.9%, from 90.6% in Q1.
Income for distributio grew 1.2% to $13.2m, while gross revenue grew 0.2% to $25.4m.
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