Frasers Logistics & Commercial Trust posts positive rental reversion in Q3 FY23
The firm also posted a high occupancy rate of 96.2%.
Property firm, Frasers Logistics & Commercial Trust (FLCT), documented 9.8% positive portfolio rental reversion and 21.4% for average rent versus average rent basis.
In a statement, FLCT also achieved a long WALE of 4.4 years, with operational stability amidst uncertainty in the macroenvironment.
The firm also has a strong balance sheet, with well-spread debt maturity profile. It now has sufficient internal funds and facilities to refinance or repay the debt maturing in FY2023.
FY2024 borrowings are maturing in June and August 2024 and management has commenced discussion with banks on refinancing options.
“Interest rate management: Every potential 50 bps increase in interest rates on variable rate borrowings is estimated to impact DPU by 0.07 Singapore cents,” it said.