The manager of Prime US REIT has reported distributable income of US$17.6 million ($23.5 million) for the 1QFY2021 ended March, a 1.2% y-o-y dip from US$17.8 million the previous year.

The slight dip in distributable income follows gross revenue that grew 2.5% y-o-y to US$35.9 million, while net property income dipped 2% y-o-y to US$23 million.

In its business updated dated May 18, the manager says the REIT’s performance “remained stable”, with rent collection rate maintained at 99% throughout FY2020 and into 1QFY2021.

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