In today’s briefing:
- Aims Apac Reit – Steady Growth Ahead
Aims Apac Reit – Steady Growth Ahead
- Results ahead of our estimates: 2H22 revenue grew by 18.9% YoY to S$77.1m and 2H22 NPI jumped 16.6% YoY to S$55.5m.
- Robust rent reversions and occupancy: ~5.9% of portfolio NLA secured new and renewal leases with overall rent reversions at +14.9% (+0.2% in 3Q22) and stable occupancy rate of 97.6% in 4Q22 (3Q22: 97.6%).
- Utility cost manageable; Debt sufficiently hedged: Portfolio leases have been structured in a way that utility costs are passed through to tenants, and hence mgmt.
Before it’s here, it’s on Smartkarma
