Portfolio Quality And Lease TenorA 7.5-year WALE and 96.7% occupancy materially reduce near-term rollover risk and provide predictable rental cash flows. Longer lease tenor supports distribution stability and gives management time to execute repurposing without immediate income pressure, a durable cash-flow advantage.
Prudent Capital Structure And Credit ProfileModest gearing, low debt-to-equity and an A3 (stable) rating with a $300m MTN show diversified funding and lower refinancing risk. This durable financial flexibility supports development funding, repurposing and distribution policy through economic cycles.
FFO Growth And Distribution DisciplineConsistent FFO growth and a reaffirmed distribution policy indicate management focus on cash generation and payout discipline. High gross margins and robust operating metrics underpin recurring funds from operations, supporting sustainable distributions over the medium term.