108 views
Logo from Prime US REIT

Prime US REIT’s net property income drops 7.2% YoY to US$47.2m in 1H23

The REIT attributed the decline to lower occupancy and higher operating expenses.

The net property income (NPI) of Prime US REIT fell 7.2% YoY to US$47.2m in 1H23, its latest financial statement showed.

The REIT also recorded a decline in its gross revenue, which fell 2.9% YoY to US$79.5m.

In a bourse filing, the REIT attributed the decline to “lower occupancy and higher property operating expenses owing to higher physical occupancy with more tenants returning to the office.”

Meanwhile, the REIT recorded a distributable income of US$29.2m, which translates to a distribution per unit of US$0.0246. 
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!