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Lendlease Global Commercial REIT’s portfolio occupancy hits 99.9% in 1Q24
It also reported a long weighted average lease expiry of eight years by net lettable area.
Lendlease Global Commercial REIT (LREIT) began the new financial year on a high as its portfolio committed occupancy hit 99.9% in 1Q24.
In the same period, LREIT reported a long weighted average lease expiry (WALE) of eight years by net lettable area (NLA) and 5.3 years by gross rental income (GRI).
Looking at the REIT’s retail portfolio alone, portfolio committed occupancy was at 99.7%.
The REIT’s retail portfolio also reported a positive rental reversion of 16.3% thanks to healthy leasing activities and uplift in retail market sentiment.
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