Parkway Life Reit (PLIfe Reit) has posted a DPU of 2.64 cents for the 1Q, payable on June 11. Income to be distributed for Q1 was $16mil, up 2.9%. Gross revenue up 1.1% to $23mil and net property income increase 1.8% to $21.5mil. The improved results were mainly due to full‐ quarter contributions from the Japan and Malaysia properties acquired in March and August 2012 respectively, and higher rent from the Singapore properties. Revenue growth was partially offset by the depreciation of the Japanese yen in Q1 2013. PLife Reit's weighted average term‐to‐debt maturity was 2.32 years, and effective all‐in cost of debt was 1.54%. Gearing level stands at 31.6%. PLife Reit has a portfolio of 37 properties located in the Asia‐Pacific region. Its total portfolio size stands at about $1.4bil as at March 31.

Source: The Business Times / Bloomberg / Straits Times