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Lendlease Global Commercial REIT Reports a 99.7% Occupancy Rate in Early 2021

May 10, 2021 – Lendlease Global Commercial REIT provided its operations update for the period January to March 2021 showing a portfolio occumapncy rate of 99.7% during the period.

The REIT’s a long weighted average lease expiry (WALE) is 9 years by net lettable area (NLA) and 4.6 years by gross rental income (GRI). The Manager has completed approximately 98% (by NLA) and 97% (by GRI) of the expiring leases in FY2021.

Lendlease Global Commercial REIT also said intends to make distributions to Unitholders semi-annually and will distribute at least 90% of its adjusted net cashflow from operations for each financial year.

The actual level of distribution will be determined at the Manager’s discretion. LREIT intends to distribute 100% of its adjusted net cashflow from operations for the period from 2 October 2019 (being the date LREIT was listed) to the end of 30 June 2021. 

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