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ESR-REIT posts 18.9% increase in 1Q DPU to 1.007 cents on higher revenue

Samantha Chiew
Samantha Chiew4/24/2019 07:21 AM GMT+08  • 2 min read
ESR-REIT posts 18.9% increase in 1Q DPU to 1.007 cents on higher revenue
SINGAPORE (Apr 24): ESR Funds Management, the manager of ESR-REIT, has declared a 1Q19 DPU of 1.007 cents, 18.9% higher than 0.847 cents in 1Q18.
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SINGAPORE (Apr 24): ESR Funds Management, the manager of ESR-REIT, has declared a 1Q19 DPU of 1.007 cents, 18.9% higher than 0.847 cents in 1Q18.

Amount available for distribution increased 138.1% to $32.0 million from $13.4 million in the previous year.

Gross revenue for the first quarter ended March came in at $64.8 million, 92.9% higher than $33.6 million last year, mainly attributed to the contributions from the acquisition of 15 Greenwich and Viva Trust’s nine properties pursuant to the merger in Oct 2018; the leasing up of 30 Marsiling and 3 Pioneer Sector 3; and rental escalations from the existing property portfolio.

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