SINGAPORE (Feb 12): The manager of Prime US REIT has declared distribution per unit (DPU) of 1.77 US cents for 4QFY2019 ended December 2019, some 9.0% higher than its initial public offering (IPO) forecast of 1.62 US cents.

This brings DPU for the FY2019 from July 19 to Dec 31, 2019, to 3.15 US cents – some 7.5% higher than the IPO forecast of 2.93 US cents – payable on March 30, 2020.

Prime’s portfolio of 11 office properties in the US raked in gross revenue of US$33.5 million ($46.5 million) during the quarter, 2.0% higher than the IPO forecast of US$32.9 million.

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