AIMS APAC REIT Delivers 41.5% DPU Growth in January to March
May 5, 2021 – AIMS APAC REIT reported a 41.5% rise in its distribution per unit (DPU) in the first three months of the year to 2.90 Singapore cents from the 2.05 Singapore cents in the same period last year.
This brings the total FY2021 DPU to 8.95 cents and cumulative distributions to Unitholders to S$63.2 million, which was S$3.3 million lower compared to FY2020 distributions to Unitholders. This was mainly due to lower net property income (net of amount reserved for distribution to Perpetual Securities holders), and management fees paid fully in cash for FY2021 but partially offset by the full release of the Australian distributable income of S$2.9 million previously retained in 4Q FY2020.
The full year 2021 gross revenue of S$122.6 million was S$3.8 million higher compared to FY2020. This was mainly due to the full year contribution from Boardriders Asia Pacific HQ – acquired in July 2019 – and the newly redeveloped 3 Tuas Avenue 2 (from March 2020 onwards), as well as 7 Bulim Street (acquired in October 2020).
The increase was partially offset by the estimated Additional Rental Relief for eligible tenants under the Singapore rental relief framework of S$1.7 million, lower contributions from 1A International Business Park arising from the conversion of master lease to multi-tenancy leases, and expiry of the previous master lease at 541 Yishun Industrial Park A in April 2020.
The new master tenant secured for the property at 541 Yishun Industrial Park A commenced its maiden rental contribution from January 2021.
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