Daiwa House Logistics Trust (SG:DHLU) has released an update.
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Daiwa House Logistics Trust reported a solid first quarter in FY2024, with a 4.6% year-over-year increase in net property income and stable distributable income, supported by a high occupancy rate and successful property acquisitions. Despite additional borrowings for acquisitions, the trust maintained a healthy aggregate leverage of 37.3%. The trust’s long-term stability is underscored by a weighted average lease expiry of 5.9 years, with key renewals extending the portfolio’s average lease term.
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